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Zimbabwe central bank lets exporters hold dollars beyond 60 days

Zimbabwe central bank lets exporters hold dollars beyond 60 days

ZIMBABWEW's central bank has reversed a decision to force exporters, including mining companies, to sell a large portion of their dollar earnings if they were not used after 60 days. Severe foreign currency shortages are the clearest sign of an economic crisis that has sparked intermittent shortages of fuel, power and medicines in the southern African nation. Critics blame the crisis on financial mismanagement and corruption by the government of President Emmerson Mnangagwa. It says the economic troubles are caused by droughts as well as sanctions imposed by Western countries some two decades ago. Reserve Bank of Zimbabwe governor John…
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