Reserve Bank of Zimbabwe governor John Mangudya
ZIMBABWE’s economic crisis hit catastrophic levels in September last year, when a foreign currency crisis forced government to halt importation of vital commodities like medicine until the intervention of a regional financial institution.
The worst could have happened, Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya revealed last week, saying a bailout from the African Export and Import Bank, which has availed a cumulative US$1,1 billion in nostro-stabilisation facilities, saved the situation.