Public Management

Inflation in Zimbabwe should fall to 55% YoY by July 2021 (Central Bank)

Inflation in Zimbabwe should fall to 55% YoY by July 2021 (Central Bank)
Thursday, 06 May 2021 12:26

The Reserve Bank of Zimbabwe says inflation in the country is expected to be 55% by July, against 873.53% in the same period in 2020.

In a note published on May 4, the Central Bank’s Monetary Policy Committee (MPC) revealed that the inflation rate dropped by 240.1% in March this year to 194% in April. This downward trend started in August last year following the implementation of a monetary policy aimed at stabilizing price development. The MPC says it wants to pursue this conservative guideline to ensure that the current price stability is maintained. 

The Central Bank also announced reforms that should help strengthen the economic recovery and boost productivity. These include maintaining the Bank's policy rate at 40% to stimulate loan applications and also investing $1.3 million (Z$500 million) in financing for micro, small and medium enterprises (MSMEs). Support for MSMEs will be deployed with an annual interest rate of 30% to improve production and productivity in all economic sectors.

It should also be noted that the policy of supporting Forex bureaus for foreign currency needs should continue, to support MSMEs that need foreign currency for their production needs.

Carine Sossoukpè (intern)

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
OeEB and Finnfund issue $25M loan to CRDB Burundi 4,000 MSMEs to benefit, 30% funds for women-led firms Deal marks OeEB’s first Burundi...
Funding supports AI upgrades and MENA regional growth Platform aims to reduce inefficiencies, fraud in insurance systems Egyptian insurtech...
Anka founders exit; platform retains brand and operations Deal aims to expand African creators’ global market access Ivorian e-commerce startup...
Seven UEMOA countries (excluding Benin) plan to raise $4.44 billion (CFA2,510.85 billion) from the regional debt market in Q4 2025. Côte...
Most Read
01

BYD to install 200-300 EV chargers in South Africa by 2026 Fast-charging stations powered by grid...

China's BYD Plans 300-Station EV Charging Network for South Africa
02

Drones to aid soil health, pest control, and input efficiency High costs, skills gap challenge ac...

Kenya Plans National Drone Rollout to Modernize Farming
03

TotalEnergies, Perenco, and Assala Energy account for over 80% of Gabon’s oil production, estimate...

Gabon Seeks Foreign Partners to Revive Declining Oil Sector
04

Nokia extended its agreement with Vodafone to supply next-generation radio access network (RAN) eq...

Vodafone Extends Nokia Partnership to Accelerate 5G Across Europe and Africa
05

Diaspora sent $990M to CEMAC via mobile money in 2023 Europe led transfers; Cameroon dominat...

Mobile Money Transfers to CEMAC Near $1B in 2023
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.