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Vol 55 No 10

Published 16th May 2014


Zimbabwe

Reversing the rot

The government makes U-turns as it tries to halt a slide into even deeper economic crisis

The first statement by the Reserve Bank of Zimbabwe (RBZ) new Governor, John Panonetsa Mangudya, on 7 May was sombre and realistic. Reassuringly, it allayed market fears that the return of the Zimbabwe dollar was on the agenda. He called for equilibrium between promoting indigenisation and the need to mobilise foreign direct investment. Coincidentally, a two-day conference of the non-governmental Southern African Political Economy Series (SAPES) saw speakers and delegates united on the need for a more investor-friendly environment and for clear and consistent policies. Earlier, the European Union had declared its readiness to re-engage with Zimbabwe.

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