ECONOMY
Zimbabwe secured a $500-million loan from the African Export-Import Bank to try and stabilize its currency market by offering platinum production as collateral, a person familiar with the details of the agreement said. The Reserve Bank of Zimbabwe on Saturday announced on Twitter that the money would be released into the foreign-exchange market from Monday, without saying where it came from. Finance Minister Mthuli Ncube later said in a separate tweet that the funds were secured from “international banks,” without identifying them. The loan is of four years duration, the person said.
Please enter the email address that you used to subscribe to Research Channel. Your password will be sent to this address.
Don't have any login details?
Free Trial Access