Home
About
Contact
Register
Login
Generate
WhatsApp Message
*RBZ Borrowing Money To Feed The Forex Auction System - Report* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?ln The RBZ is reportedly borrowing money offshore to feed the forex auction trading system further increasing its ballooning foreign debt which currently stands at US$4.5 Billion. This was revealed by the CEO of Leon Holdings a financial services company and entrepreneur Tinashe Marupata. Marupata was commenting on an article in the Chronicle when he tweeted: RBZ has been borrowing money offshore to feed the Auction. This is a patently bad market setting move. The tax payer will assume the exchange rate losses. More worrisome is that RBZ offshore debt is US$4.5bn. Another debt assumption bill. The RBZ introduced the forex trading auction system a few weeks ago in an effort to curb the foreign currency runaway rate which was crawling towards ZWL $100 per US$1. The government had said the auction system will keep a tight leash on money supply and help contain parallel market activities. Source: Twitter _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
Copy to clipboard
Feedback