Monetary Policy highlights

HARARE, – The Reserve Bank on Wednesday made its first monetary policy statement for 2015, below are the highlights:

\n

  • Non-perfuming loans down to 16 percent from 20 percent.
  • \n

  • $200 million interbank facility supported by the African Export-Import Bank (Afreximbank) now operational
  • \n

  • Central bank on way to resume lender of last resort role after Government capitalised the bank to the tune of $ 100 million using long dated debt instruments.
  • \n

  • Up to $ 65 million NPLs picked up by ZAMCO.
  • \n

  • $2 billion worth of diaspora remittances expected.
  • \n

  • $50 million mobilized for Fidelity Refineries and Printers to accelerate gold production.
  • \n

  • The Reserve Bank also arranged an $18 million facility to be used by Hwange Colliery for the purchase of equipment needed to enhance coal production.
  • \n

  • Mangudya says economy has no capacity to support salary/wage increases – The Source
  • \n