{"id":32773,"date":"2021-01-14T22:16:03","date_gmt":"2021-01-14T20:16:03","guid":{"rendered":"https:\/\/www.africa-press.com\/zimbabwe\/?p=32773"},"modified":"2021-01-14T19:10:20","modified_gmt":"2021-01-14T17:10:20","slug":"zim-exports-offer-glimmer-of-hope-to-beleaguered-economy","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zim-exports-offer-glimmer-of-hope-to-beleaguered-economy","title":{"rendered":"Zim Exports Offer Glimmer Of Hope To Beleaguered Economy"},"content":{"rendered":"

Africa-Press<\/a> – Zimbabwe<\/a>. <\/strong><\/span>Bloomberg<\/b> – ZIMBABWE recorded its fourth straight trade monthly surplus in November as Finance Minister Mthuli Ncube\u2019s steps to devalue and stabilise the local currency started showing some positive results for exports.<\/p>\n

Shipments rose 20% to $528.9 million in November, thanks to increased manufacturing and higher gold, tobacco and nickel sales.<\/p>\n

The government started regular foreign-currency auctions in June to support the Zimbabwe dollar as part of an economic stabilization program. That\u2019s placed the local currency on a more even keel, trading at just over 80 Zimbabwe dollars to the greenback since August.<\/p>\n

That\u2019s a far cry from 2009 when the previous Zimbabwe dollar was re-denominated for a third time in less than three years to get rid of as many as 12 zeros, with inflation at an estimated 500 billion percent.<\/p>\n

Zimbabwe scrapped its currency shortly after that, using multiple foreign ones for almost a decade, with the greenback as the main unit of reference. It reintroduced its own dollar in 2019, to be used alongside other money.<\/p>\n

\u201cThe main reason our exports are improving is the devaluation and stabilising of the Zimbabwe dollar,\u201d said Ashok Chakravarti, an economics professor at the University of Zimbabwe.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. Bloomberg – ZIMBABWE recorded its fourth straight trade monthly surplus in November as Finance Minister Mthuli Ncube\u2019s steps to devalue and stabilise the local currency started showing some positive results for exports. Shipments rose 20% to $528.9 million in November, thanks to increased manufacturing and higher gold, tobacco and nickel sales. The […]<\/p>\n","protected":false},"author":84,"featured_media":32772,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,35,12,15],"tags":[1493,2189,19],"class_list":["post-32773","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-policy","category-twitter","tag-africa-press","tag-africa-press-zimbabwe-2","tag-zimbabwe"],"yoast_head":"\nZim Exports Offer Glimmer Of Hope To Beleaguered Economy - zimbabwe<\/title>\n<meta name=\"description\" content=\"Bloomberg - ZIMBABWE recorded its fourth straight trade monthly surplus in November as Finance Minister Mthuli Nc ...\" \/>\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\/zim-exports-offer-glimmer-of-hope-to-beleaguered-economy\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zim Exports Offer Glimmer Of Hope To Beleaguered Economy\" \/>\n<meta property=\"og:description\" content=\"Bloomberg - 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