22 January 2017
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Zimbabwe’s economy has gone through some challenging times in recent years as the country struggles to secure reasonable funding for its capital needs along with operating expenditure. Limited foreign direct investment, largely blamed on an unpalatable investment climate, coupled with a highly consumption skewed spend leading to persistent negative balance of payments has lurched the country into a foreign currency crises desite the economy using a multicurrency system. Delays in processing remittances along with capped withdrawals as banks fail to access hard currency were some of the symptoms exhibited in recent months. Authorities responded by introduced a surrogate currency in the form of bond notes, though these are highly untrusted as parties fear the return of the much maligned local currency.
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