{"id":62265,"date":"2022-07-07T15:09:38","date_gmt":"2022-07-07T13:09:38","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimdollar-at-risk-of-complete-rejection-czi-warns"},"modified":"2022-07-07T17:30:44","modified_gmt":"2022-07-07T15:30:44","slug":"zimdollar-at-risk-of-complete-rejection-czi-warns","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimdollar-at-risk-of-complete-rejection-czi-warns","title":{"rendered":"Zimdollar At Risk Of Complete Rejection, CZI Warns"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>The Confederation of Zimbabwe Industries (CZI) has warned that the Zimbabwe dollar is at \u201crisk\u201d of being rejected if runaway inflation isn\u2019t tamed.<\/p>\n

Annual inflation soared in June to 192% \u2014 a 13-month high, with the Zimdollar the worst-performing currency in Africa.<\/p>\n

The local currency has lost more than two-thirds of its value against the US dollar this year, according to data compiled by Bloomberg.<\/p>\n

In a report dated July 5 to its members, CZI also said policy interventions implemented by authorities over the last six months to protect the local currency and arrest runaway inflation have so far failed. It said:<\/p>\n

Although year-on-year inflation has been on an upward trend since August 2021, there is a noticeable exponential increase since March 2022 which is threatening to lead to hyperinflation if sustained.<\/p>\n

This also means that policy is losing the battle with respect to protecting the local currency as there is a risk of it being rejected in the market.<\/p>\n

CZI also warned that surging consumer prices have put businesses at a disadvantage among regional peers.<\/p>\n

The business group noted that Zimbabwe\u2019s inflation rate is the highest in southern Africa and almost eight times that of Angola\u2019s, the country with the second-highest rate in the region.<\/p>\n

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

Africa-Press – Zimbabwe. The Confederation of Zimbabwe Industries (CZI) has warned that the Zimbabwe dollar is at \u201crisk\u201d of being rejected if runaway inflation isn\u2019t tamed. Annual inflation soared in June to 192% \u2014 a 13-month high, with the Zimdollar the worst-performing currency in Africa. The local currency has lost more than two-thirds of its […]<\/p>\n","protected":false},"author":84,"featured_media":62264,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6,35,15],"tags":[1493,2189,19],"class_list":["post-62265","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-zimbabwe-2","tag-zimbabwe"],"yoast_head":"\nZimdollar At Risk Of Complete Rejection, CZI Warns - zimbabwe<\/title>\n<meta name=\"description\" content=\"The Confederation of Zimbabwe Industries (CZI) has warned that the Zimbabwe dollar is at \u201crisk\u201d of being rejected if run ...\" \/>\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\/zimdollar-at-risk-of-complete-rejection-czi-warns\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zimdollar At Risk Of Complete Rejection, CZI Warns\" \/>\n<meta property=\"og:description\" content=\"The Confederation of Zimbabwe Industries (CZI) has warned that the Zimbabwe dollar is at \u201crisk\u201d of being rejected if run ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimdollar-at-risk-of-complete-rejection-czi-warns\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-07T13:09:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-07T15:30:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/07\/postQueueImg_23-62c6fc101a6dd.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"548\" \/>\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=\"1 minute\" \/>\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\/zimdollar-at-risk-of-complete-rejection-czi-warns#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimdollar-at-risk-of-complete-rejection-czi-warns\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Zimdollar At Risk Of Complete Rejection, CZI Warns\",\"datePublished\":\"2022-07-07T13:09:38+00:00\",\"dateModified\":\"2022-07-07T15:30:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimdollar-at-risk-of-complete-rejection-czi-warns\"},\"wordCount\":224,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimdollar-at-risk-of-complete-rejection-czi-warns#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/07\/postQueueImg_23-62c6fc101a6dd.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zimbabwe\",\"Zimbabwe\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimdollar-at-risk-of-complete-rejection-czi-warns#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimdollar-at-risk-of-complete-rejection-czi-warns\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimdollar-at-risk-of-complete-rejection-czi-warns\",\"name\":\"Zimdollar At Risk Of Complete Rejection, CZI Warns - 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