Zimbabwe Central Bank Owes Over $4 Billion for Food, Fuel
- Bank’s No. 2 creditor was commodities giant Trafigura Group
- Central bank’s debts relate to supply of fuel, corn, services
A street vendor pushes a cart of bananas to sell at the bus terminus in the central business district of Harare, Zimbabwe.
Photographer: Cynthia R Matonhodze/BloombergThis article is for subscribers only.
Zimbabwe’s central bank has racked up debts of more than $4 billion to banks and companies, including commodities giant Trafigura Group and national flag carrier South African Airways.
The Reserve Bank of Zimbabwe debts relate to the supply of fuel, corn and other goods and services, as the state attempts to prop up the faltering economy. The southern African nation is suffering from market turmoil as new tax rules drive a rebound in the currency, which was previously devalued to tame triple-digit inflation and the world’s highest interest rates.