{"id":103121,"date":"2025-01-14T12:03:17","date_gmt":"2025-01-14T10:03:17","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/biti-warns-of-economic-chaos-in-2025"},"modified":"2025-01-21T16:31:20","modified_gmt":"2025-01-21T14:31:20","slug":"biti-warns-of-economic-chaos-in-2025","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/biti-warns-of-economic-chaos-in-2025","title":{"rendered":"Biti Warns Of Economic Chaos In 2025"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>Former Finance Minister Tendai Biti has warned of potential economic chaos in 2025 if there is no liberalised exchange rate and no injection of liquidity into the economy.<\/p>\n

In an interview with NewsDay, Biti said the introduction of the gold-backed ZiG currency in 2024 has contributed to economic instability. Said Biti:<\/p>\n

Companies are paying the price of an uncertain political regime and exchange rate mismanagement. The introduction of the ZiG [Zimbabwe Gold] currency has only brought chaos to the economy.<\/p>\n

Biti warned that Zimbabwe could face a total collapse in aggregate demand as businesses grapple with crippling debt charges and limited access to affordable capital.<\/p>\n

To prevent further economic decline, Biti said that must be cheap money in the market to provide businesses with the funding necessary for survival.
\nHe also criticized the export surrender requirement, calling it an unnecessary burden that restricts access to foreign currency.<\/p>\n

Under the current system, exporters are required to surrender 25% of their proceeds in exchange for local currency at the prevailing interbank exchange rate.<\/p>\n

Biti further called for the removal of money transfer fees, arguing that they stifle economic activity and increase the cost of doing business.<\/p>\n

The former Finance Minister also expressed concern over the political uncertainty surrounding the potential extension of President Emmerson Mnangagwa\u2019s term beyond the constitutionally mandated two terms, which are set to end in 2028.<\/p>\n

He warned that such political instability could further exacerbate the country\u2019s economic challenges. Biti said:<\/p>\n

The uncertainty created by Mnangagwa\u2019s third-term ambitions and the removal of key officials is discouraging investment and deepening the crisis. Such moves create suspicion and erode trust in governance.<\/p>\n

Biti said the political climate is prompting businesses to relocate to South Africa and other neighbouring countries, while investors remain cautious and reluctant to commit.<\/p>\n

For More News And Analysis About Zimbabwe<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. Former Finance Minister Tendai Biti has warned of potential economic chaos in 2025 if there is no liberalised exchange rate and no injection of liquidity into the economy. In an interview with NewsDay, Biti said the introduction of the gold-backed ZiG currency in 2024 has contributed to economic instability. Said Biti: Companies […]<\/p>\n","protected":false},"author":84,"featured_media":103120,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[1164,19],"class_list":["post-103121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-tendai-biti","tag-zimbabwe"],"yoast_head":"\nBiti Warns Of Economic Chaos In 2025 - zimbabwe<\/title>\n<meta name=\"description\" content=\"Former Finance Minister Tendai Biti has warned of potential economic chaos in 2025 if there is no liberalised exchange r ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/biti-warns-of-economic-chaos-in-2025\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Biti Warns Of Economic Chaos In 2025\" \/>\n<meta property=\"og:description\" content=\"Former Finance Minister Tendai Biti has warned of potential economic chaos in 2025 if there is no liberalised exchange r ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/biti-warns-of-economic-chaos-in-2025\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-14T10:03:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-21T14:31:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2025\/01\/sm_1736843848.649686.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"402\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/biti-warns-of-economic-chaos-in-2025#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/biti-warns-of-economic-chaos-in-2025\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Biti Warns Of Economic Chaos In 2025\",\"datePublished\":\"2025-01-14T10:03:17+00:00\",\"dateModified\":\"2025-01-21T14:31:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/biti-warns-of-economic-chaos-in-2025\"},\"wordCount\":313,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/biti-warns-of-economic-chaos-in-2025#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2025\/01\/sm_1736843848.649686.jpg\",\"keywords\":[\"Tendai Biti\",\"Zimbabwe\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/biti-warns-of-economic-chaos-in-2025#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/biti-warns-of-economic-chaos-in-2025\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/biti-warns-of-economic-chaos-in-2025\",\"name\":\"Biti Warns Of Economic Chaos In 2025 - 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