Zimbabwe lifts lending freeze
President had announced total halt to lending in bid to defend local currency
The Reserve Bank of Zimbabwe announced on May 17 that banks can resume lending in the country, 10 days after president Emmerson Mnangagwa announced a suspension on new credit.
The RBZ’s brief statement said the ban on new loans “has been lifted with immediate effect”. However, “those entities that are under investigation by the Financial Intelligence Unit (FIU) for abusing loan facilities to the detriment of the economy” are still forbidden to extend new loans.
In his May 7 address, Mnangagwa
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