{"id":86114,"date":"2023-11-03T11:05:11","date_gmt":"2023-11-03T09:05:11","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncube-reveals-reason-for-extending-multi-currency-regime-to-2030"},"modified":"2023-11-03T14:35:44","modified_gmt":"2023-11-03T12:35:44","slug":"mthuli-ncube-reveals-reason-for-extending-multi-currency-regime-to-2030","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/mthuli-ncube-reveals-reason-for-extending-multi-currency-regime-to-2030","title":{"rendered":"Mthuli Ncube Reveals Reason For Extending Multi-currency Regime To 2030"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>Finance, Economic Development and Investment Promotion Minister Mthuli Ncube said that the refusal by banks to lend money both in Zimbabwe dollars and in United States dollars prompted the Government to enact Statutory Instrument 218 of 2023 which extended the use of the multiple currency system to December 2030.<\/p>\n

Ncube said this during his presentation at this year\u2019s pre-budget seminar, held under the theme \u201cConsolidating Economic Transformation\u201d, at the new parliament building. NewZimbabwe.com<\/b> quoted Ncube as saying:<\/p>\n

You saw the SI that we issued a few days ago, where we said because of that, we wanted an orderly situation in the market rather than disorder.<\/p>\n

Disorder was beginning to emerge. What we saw in the banking sector. Banks were now refusing to lend money at all, some of them in USD, so that had become chaotic.<\/p>\n

So we thought that let\u2019s release some pressure from the market to restore order.<\/p>\n

Minister Ncube also stated that despite extending the multi-currency regime by another 7 years, the Government has not abandoned plans for a mono-currency. He said:<\/p>\n

We are headed for mono currency, let\u2019s be clear about that, but we want order. So the extension to 2030 was to create order and calm in the market.<\/p>\n

Economists estimate that 80% of the local economy is dollarised, with the gap between the official and exchange rates continuing to widen.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. Finance, Economic Development and Investment Promotion Minister Mthuli Ncube said that the refusal by banks to lend money both in Zimbabwe dollars and in United States dollars prompted the Government to enact Statutory Instrument 218 of 2023 which extended the use of the multiple currency system to December 2030. Ncube said this […]<\/p>\n","protected":false},"author":84,"featured_media":86113,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,12],"tags":[1493,2189,807,10501,1190,19],"class_list":{"0":"post-86114","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-policy","9":"tag-africa-press","10":"tag-africa-press-zimbabwe-2","11":"tag-mthuli-ncube","12":"tag-multi-currency-regime","13":"tag-multi-currency-system","14":"tag-zimbabwe"},"yoast_head":"\nMthuli Ncube Reveals Reason For Extending Multi-currency Regime To 2030 - zimbabwe<\/title>\n<meta name=\"description\" content=\"Finance, Economic Development and Investment Promotion Minister Mthuli Ncube said that the refusal by banks to lend mone ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncube-reveals-reason-for-extending-multi-currency-regime-to-2030\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mthuli Ncube Reveals Reason For Extending Multi-currency Regime To 2030\" \/>\n<meta property=\"og:description\" content=\"Finance, Economic Development and Investment Promotion Minister Mthuli Ncube said that the refusal by banks to lend mone ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncube-reveals-reason-for-extending-multi-currency-regime-to-2030\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-03T09:05:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-03T12:35:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/11\/sm_1698998559.82556.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1066\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncube-reveals-reason-for-extending-multi-currency-regime-to-2030\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncube-reveals-reason-for-extending-multi-currency-regime-to-2030\",\"name\":\"Mthuli Ncube Reveals Reason For Extending Multi-currency Regime To 2030 - 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