‘RBZ, pay your debts’

The Bankers’ Association of Zimbabwe (BAZ) said the Reserve Bank of Zimbabwe should first repay at least $70 million statutory reserve money to banks urgently in order to restore confidence in the financial sector.

Appearing before the Parliamentary Portfolio Committee on Budget, Finance and Investment Promotion on Monday, BAZ president John Mushayavanhu said the money owed by the central bank was in various currencies including rands, euro and United States dollars.

Statutory reserves are State- regulated reserve requirements held by the central bank.

This story is for NewsDay subscribers.