The Sunday News
INDUSTRIAL lobby group, Confederation of Zimbabwe Industries (CZI), has proposed the adoption of a two-tier exchange rate management regime, formed from the combination of floating and crawling peg systems, to facilitate formal access to foreign currency by businesses.
The lobby group made the call in a comprehensive position paper, titled “CZI Policy Response Paper 1”, submitted to Government this week, as part of proposed policy interventions to avoid potential negative impact of the $18 billion stimulus.
CZI’s suggested policy interventions and reorientation also covers guidance on money supply, careful stimulus package calibration, modalities for funding disbursements and institutional strengthening proposals.
Government came up with the economic stimulus and recovery package to ameliorate the devastating effects of the Covid-19 global pandemic, which has killed hundreds of thousands and infected millions worldwide, forcing months of national lockdowns.
ALL SHARE
The All Share index jumped up by a huge 50.39 points (7,83 percent) to close at 693.69 points. Old Mutual Limited added $2,8497 to $56,0575, RioZim Limited rose by $1,5000 to $9,0000 and Padenga traded $1,2255 firmer at $7,3800. Hippo Valley Estates also increased by $1,1350 to $6,8400 and Delta Corporation Limited was $0,7610 stronger at $9,0105.
No counter traded in the negative as ZB Financial holdings traded unchanged at $1,6800.
