Zimbabwe industrialists call on government to scrap new forex laws
Reserve Bank governor says legislation will protect consumers and prevent companies that get foreign currency from diverting it to the parallel market
03 June 2021 - 17:17
The Confederation of Zimbabwe Industries (CZI), a group representing Zimbabwe’s largest companies, has called for the immediate suspension of a law introduced last week forcing businesses to peg prices of goods and services to the official exchange rate.
In justifying the new law, Reserve Bank of Zimbabwe (RBZ) governor John Mangudya said the regulation seeks to ensure that companies that get foreign currency from the official system do not divert it to the parallel market...
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