Deposit incentives but no protection for USD, the mess that is Zim's monetary policy

Yesterday we reported on the lack of coverage for USD deposits by the Deposit Protection Corporation (DPC). And a lot of people weren’t too surprised that this provision was not set by the Reserve Bank of Zimbabwe (RBZ) and Ministry of Finance.

While that gap exists in the banking sector, the Reserve Bank announced interest rates for savings deposits including USD. Yeah… if you were to tell anyone who isn’t familiar with Zimbabwe that this is the way we exist they wouldn’t believe you.

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