HARARE (Reuters) - Zimbabwe's central bank chief on Thursday cautioned the government against a drive forcing foreign banks to hand over majority stakes to locals, saying this could damage confidence in the sector battling through a fragile economic recovery. Gideon Gono also said the current dollar crunch and high interest rates, which averaged 22 percent in 2012, were a result of political risk and urged leaders to tone down rhetoric that could scare away foreign investment. Zimbabwe was on a "path to destruction" with a huge import bill of $7.5 billion last year against exports of $3. ...
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