File: The central bank last year borrowed $985-million from Afrexim Bank and other African lenders to purchase fuel and other critical imports.HARARE - Zimbabwe's central bank has secured a $500-million loan from unspecified international banks to support interbank currency trading from Monday and ease a dollar crunch that has brought fuel and medicine shortages, Governor John Mangudya said.
The mismatch has seen companies and individuals with dollars selling their money on the black market where premiums are higher, amid charges that the central bank was manipulating the official exchange rate. "This amount shall go a long way to stabilise the exchange rates and prices of goods and services in the economy," said Mangudya, without revealing the source of the loan.Finance Minister Mthuli Ncube tweeted that the loan had been secured from international banks, which he did not name.
The weakening currency has fuelled inflation, which raced to a new 10-year high of 75,6-percent in April.
You don't know these crooks can lie. Only report after evidence of such facility is on the ground.
Did you see this money? 😞😞
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