Zimbabwe gets more than R14bn from IMF, government confirms

The money will 'go a long way in buttressing the stability of the domestic economy', say finance minister and central bank governorA huge cash injection from the IMF will increase the foreign exchange reserves position of the country by $961m, say finance minister Mthuli Ncube and central bank governor John Mangudya.

The IMF's largest-ever distribution of monetary reserves will provide additional liquidity for the global economy, supplementing member countries' foreign exchange reserves and reducing their reliance on more expensive domestic or external debt.“The immediate effect of this support from the IMF is to increase the foreign exchange reserves position of the country by $961m,” finance minister Mthuli Ncube and central bank governor John Mangudya said in a joint statement.

The Zimbabwe dollar is officially trading at 86 against the US dollar but is significantly weaker, at 150 to the greenback, on a thriving black market.

Source: News Formal (newsformal.com)

This money is going traight into Mngangwangwa's pockets

Not a penny will be spent in Zim, the money is gone already

For the profits good works deserve good a recommendation I have received my profits directly to my capitec bank account and I don't need a lot of words to prove that you are legitimate because I have seen it all Lisattownnsend

I can't find a perfect way to express my experience with Mr Tyron it was a very awesome transformation. I've always seen recommendations in respect to his name and I gave a try and I made cool withdrawals. THANKS SO MUCH... you can as well reach him also tyron_robert7

Let all Zimbabweans go back home,we believe they came here for money,isifikile ke manje emva ekhaya imali😏

I entrusted shantelll_142 with my money since I took rush of investing my money with her platform, and since then I've recovered all I lost to scams. Get in touch with shantelll_142 and get a good mentorship and safe trading.

I wish I contacted earlier Linda_Stouffe this year I'm sharing this to encourage every beginner and Bitcoin lover to get in touch with her she is very legit and God fearing person Linda_Stouffe

I will always be indebted to you, thank you for going that extra mile to make this month a success for me and my family Lisattownnsend you are 100% reliable thanks once again.

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cash strapped Zimbabwe gets $961m from IMFFunds are part of IMF’s record $650bn allocation to member nations Is it still there or gone already 🤔 The reason is not coz Zim is cash strapped even countries like Nigeria, SA get these kinda packs every now and then and again not being controlled by whites is not = cash strapped!!! I’m still counting my profits from Bitcoin trading Special thanks to Caldwellsteve8 for guiding me throughout every process step by step and giving me the necessary information I need , I really appreciate I never thought I could earn this much from Mr Caldwell platform
Source: BDliveSA - 🏆 12. / 63 Read more »

Calls for transparency as SA gets R65 billion injection from IMFThe DA says while it welcomes the cash injection into the economy, the money should go to funding investments. GUNFRIENDLY_SA Look, most of it will go to high end fashion boutiques, luxury car dealerships, and exclusive bottle stores. Not directly, it’ll pass through the hands of some of the most deserving cadres first... and then to the above mentioned outlets. GUNFRIENDLY_SA We all know that corrupt politicians are going to loot this money as the trough is now replenished for the pigs to feast. Only the Political Elite will benefit from this money VoetsekANC
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Currency dispute stalls private investment in Zimbabwe energy sectorNyangani Renewable Energy wants to be paid in US dollars but the Zimbabwe Electricity Transmission and Distribution Company wants to pay in Zimbabwe dollars I think I'm the most excited person in the world right now I can't take this surprise alone, I will never stop appreciating Lisatownnsend for her amazing work and honesty.
Source: BDliveSA - 🏆 12. / 63 Read more »

EDITORIAL: Lindiwe Zulu’s modus operandi is irresponsibilityThe green paper released by Zulu will confirm perceptions of the dysfunctionality of a government that operates in silos
Source: BDliveSA - 🏆 12. / 63 Read more »

IMF has injected R65bn into SA's fiscusThe International Monetary Fund's Special Drawing Rights become effective on Monday and South Africa is a beneficiary. And they won't see anything in return.. not those strongly recommendations for economic growth... like a leave in the wind that monet will whither and die with nothing to show for it Here we go again 💔 😁 😂 🙆🏼‍♂️ Well it will keep the ANC quiet for a while, until its finished, then they will want us all to give them 12% of our salaries to pay for their Blue Label....
Source: eNCA - 🏆 49. / 51 Read more »

Five things to know about the potent new Jaguar F-Pace SVRThe high-performance SUV gets more power, chassis tweaks and a revamped interior
Source: BDliveSA - 🏆 12. / 63 Read more »