Govt gives RBZ money to clear Forex Auction backlog

The Reserve Bank of Zimbabwe (RBZ) has, in a statement, said that the govt has provided them with funds to clear the Forex Auction backlog.

CLEARANCE OF THE RING-FENCED BACKLOG OF FOREIGN EXCHANGE AUCTION ALLOTMENTS

Further to previous communication that Government would be providing funds to clear the ring-fenced backlog of foreign exchange auction allotments, the Reserve Bank of Zimbabwe (the Bank) is pleased to advise the public that it is in the process of clearing the ring-fenced backlog after receiving the funds from Treasury.

The Bank wishes to thank Government for providing the funds to clear the backlog. This will go a long way in restoring confidence in the Foreign Exchange Auction System as well as stabilising the foreign exchange market.

The Bank continues to urge foreign auction participants and banks to observe and uphold principles of good corporate governance and self-discipline to ensure high standards of business ethics and transparency for the stability of the economy in the short to medium term.

The Reserve Bank of Zimbabwe (RBZ) on Twitter

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