Zimbabwe: U.S.$ Denominated Loans Hit 94% as Advances Increase Seven-Fold

US$ denominated loans extended by the local banking sector constituted 94% on the back of an eight-fold increase of total loan advances, the Reserve Bank of Zimbabwe (RBZ) Mid- Term Monetary Policy Statement (MPS) review has established.

The blueprint commended the role being played by the banking sector in the development of the economy through financial support extended to private companies.

“Aggregate banking sector loans and advances increased by 7,9 times from $1,29 trillion as at 31 December…