Left Menu
Development News Edition

Zimbabwe hikes lending rate to 70% to tackle inflation

Reuters | Harare | Updated: 13-09-2019 19:52 IST | Created: 13-09-2019 19:49 IST
Zimbabwe hikes lending rate to 70% to tackle inflation
Image Credit: Pixabay

Zimbabwe's central bank said on Friday it had raised its overnight borrowing rate from 50% to 70%, after a surge in inflation and a steep fall in the domestic currency.

Zimbabweans face triple-digit annual inflation as the government has taken steps to relaunch a national currency.

The central bank added, in a monetary policy statement, that it was introducing dollar-denominated savings bonds to try to stimulate greater saving.

Also Read: ANALYSIS-In a fracturing world, central banks still stuck together



South Africa's COVID-19 response: Surprising outcomes or just poor data management?

South Africa has been committed to improving its health information system and shows that a robust digital has considerable scope to improve healthcare for the entire population. But the COVID-19 pandemic has highlighted that significant ga...

Post-COVID-19 Nigeria needs a robust Health Management Information System to handle high disease burden

Nigeria is among a few countries that conceptualised a health management information system HMIS in the early 90s but implementation has been a challenge till date. Besides COVID-19, the country has a huge burden of communicable and non-com...

Morocco COVID-19 response: A fragile health system and the deteriorating situation

Learning from its European neighbors, Morocco imposed drastic measures from the initial stages of the COVID-19 outbreak to try to contain its spread. The strategy worked for a few months but the cases have surged after mid-June. In this sit...

COVID-19: Argentina’s health system inefficiencies exaggerate flaws of health information system

You can recover from a drop in the GDP, but you cant recover from death, was the straightforward mindset of Argentinas President Alberto Fernndez and defined the countrys response to COVID-19. The South American nation imposed a strict...


Latest News

Amazon sees broader audience for its palm recognition tech

Amazon has introduced new palm recognition technology in a pair of Seattle stores and sees a broader potential audience in stadiums, offices and elsewhere. Customers at the stores near Amazons campus in Washington can flash a palm for entry...

Nutanix report shows key challenges and opportunities with hybrid cloud adoption

Nutanix NASDAQ NTNX, a leader in enterprise cloud computing, today announced findings of a new report analysing key challenges and opportunities with hybrid cloud adoption. While most see hybrid cloud as the ideal IT model, the report show...

US Presidential Debate: Trump goes after Hunter Biden for work in Ukraine, Joe defends his son

US President Donald Trump went after former Vice President Joe Biden over his son Hunters business dealings and alleged he had earned billions from work related to China and Ukraine. During the presidential debate, Trump said China ate your...

Microsoft resolves major Monday outage after five hours

Microsoft took five hours to resolve a major outage of its workplace applications on Monday, but has not clarified what caused the outage. The company said the outage, which affected users ability to log into Office 365 applications, began ...

Give Feedback