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The economy of Zimbabwe is a gold standard based economy. Zimbabwe has a $44 billion dollar informal economy in PPP terms which translates to 64.1% of the total economy. Agriculture and mining largely contribute to exports. The economy is estimated to be at $73 billion at the end of 2023.
Herbert Muchemwa Murerwa is a Zimbabwean politician. He served as the Finance Minister of Zimbabwe from April 1996 to July 2000, from August 2002 to February 2004, and again from 26 April 2004 to 6 February 2007. He has been Minister of Lands and Land Resettlement since February 2009.
The Reserve Bank of Zimbabwe is the central bank of Zimbabwe and is headquartered in Harare.
Gideon Gono is a former Governor of the Reserve Bank of Zimbabwe, serving from 2003 to 2013, and is the former CEO of the CBZ Bank Limited.
The Cabinet of Zimbabwe is the executive body that forms the government of Zimbabwe together with the President of Zimbabwe. The Cabinet is composed of the President, the Vice-Presidents, and ministers appointed by the President. Until 1987, the Cabinet was chaired by the Prime Minister; it is now headed by the President.
The Zimbabwean dollar was the name of four official currencies of Zimbabwe from 1980 to 12 April 2009. During this time, it was subject to periods of extreme inflation, followed by a period of hyperinflation.
Trust Banking Corporation (TBC), commonly referred to as Trust Bank, is a commercial bank in Zimbabwe. It is one of the commercial banks in the country, licensed by the Reserve Bank of Zimbabwe, the national banking regulator.
Standard Chartered Zimbabwe is a commercial bank in Zimbabwe and a subsidiary of FBC Holdings since 2024. It is licensed by the Reserve Bank of Zimbabwe, the central bank and national banking regulator.
Chikurubi Prison is a maximum security prison in Zimbabwe. Located on the outskirts of the country's capital, Harare, the prison is notorious for alleged mistreatment and human rights abuses. The prison is known for its overcrowding and poor sanitary conditions. Cells typically measure 9 metres (30 ft) by 4 metres (13 ft), and there are as many as 25 prisoners housed in each cell.
Allied Bank, was a commercial bank in Zimbabwe that closed in 2015. The bank regulator cancelled its license on 8 January 2015 after determining that the bank was "no longer in a safe and sound condition, grossly undercapitalised and facing chronic liquidity challenges"
The Reserve Bank of Zimbabwe began to release Zimbabwean bond coins on 18 December 2014. The coins were supported by a US$50 million facility extended to the Reserve Bank of Zimbabwe by Afreximbank. To date coins worth US$15 million have been struck out of the total $50 million available. The coins were first issued in denominations of 1, 5, 10, and 25 cents and are pegged to the corresponding values in U.S. dollars. A 50 cents bond coin was released in March 2015.
John Panonetsa Mangudya is a former governor of the Reserve Bank of Zimbabwe. He was appointed in March 2014 by the then Zimbabwean president, Robert Mugabe, and began his tenure as governor on 1 May that year. His second 5 year term ended on 28 March 2024. He succeeded Gideon Gono as the governor of Zimbabwe's central bank and became the nation's 6th substantial exchequer.
Zimbabwean Bonds were a form of legal tender near money released by the Reserve Bank of Zimbabwe which attempts to resolve Zimbabwe's lack of currency. Bonds and were pegged against the U.S. dollar at a 1:1 fixed exchange rate and backed by the country's reserve. Since abandoning the Zimbabwean dollar in 2009 after it went into hyperinflation the country began using a number of foreign currencies including the U.S. dollar, South African rand, British pound and Chinese yuan as a means of exchange. The inability to print these currencies led to a shortage of money with banks issuing limits on withdrawals.
Zimbabwean bond notes were a form of banknote in circulation in Zimbabwe. Released by the Reserve Bank of Zimbabwe, the notes were stated to not be a currency in itself but rather legal tender near money pegged equally against the U.S. dollar. In 2014, prior to the release of bond notes, a series of bond coins entered circulation.
The Zimbabwean dollar, also known as the Zimdollar or Real Time Gross Settlement (RTGS) dollar, was the currency of Zimbabwe from February 2019 to April 2024. It was the only legally permitted currency for trade in Zimbabwe from June 2019 to March 2020, after which foreign currencies were legalised again.
Spartan Security Investments (Private) Limited is a Zimbabwean owned company which specializes in finance and securities related investments. It is owned by deputy minister of finance and investment promotion of Zimbabwe, David Kudakwashe Mnangagwa. It is accused of shady deals which propel Zimbabwean currency instability alongside Makanaka Investments which trade as Pote Holdings. At one point, the Company bank accounts were frozen for illicit black market trading.
InnBucks MicroBank Limited is a deposit taking micro-finance registered and regulated in terms of Zimbabwean law. It offers banking and financial services to individuals and public. It was formed as registered corporate after acquiring and renaming of Ndoro Micro-finance in 2022.
Zvaringeni Samuel Chasi is a Zimbabwean politician and the incumbent opposition president and commander-in-chief of People's Patriotic Party. Previously held leadership roles under the Zanu Pf National Commissariat Dept. Previous notable service is with the Ministry of Youth, Ministry of Defense, and Ministry of Foreign Affairs in Zimbabwe.
The Zimbabwe Gold is the official currency of Zimbabwe since 8 April 2024, backed by US$575 million worth of hard assets: foreign currencies, gold, and other precious metals. It replaced the Zimbabwean dollar, which suffered from rapid depreciation, with the official exchange rate surpassing 30,000 Zimbabwean dollars per U.S. dollar on 5 April 2024, whilst the parallel market rate reached 40,000 per U.S. dollar. Annual inflation in Zimbabwe hit 55.3% in March 2024.
Gold-backed digital token, abbreviated as GBDT is an investment instrument used in Zimbabwe. It was formerly known as ZiG, but its name was taken by a newly created gold backed currency, the Zimbabwean ZiG, thus renaming this investment instrument to GBDT. The digital coins are not loanable.
References
- ↑ Munhende, Leopold (2024-04-08). "Mnangagwa's appointment of new RBZ boss illegal, invalid — lawyers demand immediate reversal |" . Retrieved 2024-07-03.
- ↑ "NEW: Dr John Mushayavanhu appointment as new Governor for Reserve Bank of Zimbabwe formalised". The Sunday Mail . 2024-03-28. Retrieved 2024-04-13.
- ↑ Zviko (2023-12-08). "John Mushayavanhu Biography| Profile, Education, Career, RBZ". Zimbabwe Profiles. Retrieved 2024-04-13.