CZI warns of imminent Zimdollar collapse

THE Confederation of Zimbabwe Industries (CZI) has warned that the local currency faces imminent collapse and called on government to come up with alternative policy measures to restore confidence in the financial services sector.

In a report published on Monday titled The Currency Situation and Recommendations for Change, CZI expressed concern over the pace at which the local currency was depreciating in value against major currencies.

The statement by Zimbabwe’s largest industry lobby group comes a few days after top economists told MPs during the 2022 pre-budget seminar in Harare that Zimbabwe might dollarise soon.

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