Finance minister Mthuli Ncube says Zimbabwe has secured mining deals worth $8 billion, in a move that is expected to boost the country’s waning economy.
This comes as the southern African country’s economy has plunged into crisis after foreign currency shortages recently stoked the fastest increase in consumer prices in more than a decade and caused shortages of food, fuel and medicine.
Meanwhile, RBZ and analysts agree that the recent introduction of a battery of measures to stabilise prices by the central bank would not alone solve the country’s economic challenges.
This comes as experts have also warned that demand for hard cash in the country is likely to remain high in the foreseeable future- with Zimbabwe’s external payment backlog still at US$600 million.
More to follow…fingaz