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Vol 60 No 9

Published 3rd May 2019


Zimbabwe

Currency scams block reforms and deepen crisis

Senior ruling party figures are sabotaging the programme to stabilise the country's finances by exploiting their access to US dollars

Two months after the launch of vital currency reforms, the official exchange rate is still way out of line with the parallel market, despite solemn commitments by the government to narrow the gap. The reason, according to impeccable financial sources in Harare, is that senior figures in the ruling Zimbabwe African National Union-Patriotic Front are profiteering by buying currency at the official rate and selling it at the unofficial rate.

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