Monetary Policy Statement highlights

16 Sep, 2016 - 00:09 0 Views

The Herald

$20 million gold development initiative for small-scale miners;

Bond notes to start circulating by end of October and in smaller denominations of $2 and $5;

Bond notes equivalent to $75 million to be in circulation by end of December;

$10 million horticulture or floriculture pre and post shipment facility;

Incentives for inflows from the Diaspora introduced;

External debt arrears clearance by December 31, 2016,

Resuscitation of the credit guarantee scheme;

Threshold for external loans without RBZ approval increased to $20 million;

Microfinance institutions interest rates reduced to 10 percent;

Credit guarantee scheme resuscitated;

Offshore financial centre to be established;

Plastic money transactions increase to $5,5 billion in July from $4,1 billion in January.

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