Afreximbank releases $150m to stabilise nostros

THE African Export Import Bank (Afreximbank) has released $150 million to the Reserve Bank of Zimbabwe (RBZ), to stabilise nostro accounts and deal with current delays in the processing of outgoing payments by banks.

Speaking at the Zimbabwe National Chamber of Commerce breakfast meeting yesterday, RBZ governor John Mangudya said the $150m was part of the initial tranche of $215 million that the central bank would get.

In total, the nostro stabilisation facilities will be $545m.

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