George-Guvamatanga
The announcement was made by Finance and Economic Development Secretary, George Guvamatanga at a press conference held in Harare this Monday.
He said the Statutory Instrument will be issued today (27 June 2022).
He said the legislation is introduced after financial institutions including banks have been complaining that people are borrowing USD and would repay in Zimbabwe dollars.
This would put them at a disadvantage considering that the local currency is shedding value against the United States dollar and other currencies.
Post published in: Business