Today the Reserve Bank of Zimbabwe (RBZ) Governor Dr Mangudya presented a midterm Monetary Police Statement (MPS).

In a nutshell, the MPS highlighted that

  • With immediate effect, there will be inform export retention at 70% with the liquidation period being reviewed to 60 days from 30
  • Medium term facility being reviewed to 25% while the bank policy rate remains at 35%
  • A daily mobile wallet limit of ZWL 5,000.00 was effected with funds in agents accounts set to be liquidated pending verification of their sources
  • Forex liquidation of 20% of domestically generated foreign currency sales was reviewed with free funds (NGOs, individuals, tobacco, fuel companies) being excepted
  • Capitalisation of Banking Institutions reviewed to 31 December 2021 from the previously set 31 December 2020.

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