{"id":9065,"date":"2012-03-19T03:19:50","date_gmt":"2012-03-19T01:19:50","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/zimbabwe-orders-mining-firms-to-bank-locally\/"},"modified":"2012-03-19T03:19:50","modified_gmt":"2012-03-19T01:19:50","slug":"zimbabwe-orders-mining-firms-to-bank-locally","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/zimbabwe-orders-mining-firms-to-bank-locally\/","title":{"rendered":"Zimbabwe orders mining firms to bank locally"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Zimbabwe wants miners&#8217; export earnings brought back<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Dollarised economy faces hard currency shortage<\/p>\n<p><span><\/span><\/p>\n<p>By Nelson Banya<\/p>\n<p><span><\/span><\/p>\n<p>HARARE, March 18 (Reuters) &#8211; Zimbabwe has ordered foreign<br \/>\nmining firms to deposit their export earnings with local banks,<br \/>\nstate media reported on Sunday, the latest government move to<br \/>\nexert pressure on miners as it tries to address the dollar<br \/>\ncrunch afflicting its economy.<\/p>\n<p><span><\/span><\/p>\n<p>Mines Minister Obert Mpofu told the Sunday Mail that cabinet<br \/>\nlast week had decided to tell mining companies to bring back<br \/>\nearnings from their Zimbabwe operations which were deposited in<br \/>\noffshore accounts.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We have been liberal. It does not make sense that mining<br \/>\ncompanies are operating in the country and keeping money in<br \/>\noffshore accounts,&#8221; Mpofu told the Mail.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;An order has been issued and they should all bring the<br \/>\nmoney back into the country because the economy is now<br \/>\ndollarised.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Zimbabwe&#8217;s unity government has managed to stabilise the<br \/>\neconomy, which grew by 9.3 percent in 2011 and is set to grow by<br \/>\na further 9.4 percent this year according to official figures,<br \/>\nbut the country is battling an acute dollar shortage.<\/p>\n<p><span><\/span><\/p>\n<p>Zimbabwe adopted the use of foreign currencies, mostly the<br \/>\nU.S. dollar and South African rand in 2009, after its own unit<br \/>\nwas destroyed by hyperinflation that reached 500 billion percent<br \/>\nin December 2008.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Zimbabwe wants miners&#8217; export earnings brought back * Dollarised economy faces hard currency shortage By Nelson Banya HARARE, March 18 (Reuters) &#8211; Zimbabwe has ordered foreign mining firms to deposit their export earnings with local banks, state media reported on Sunday, the latest government move to exert pressure on miners as it tries to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-9065","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=9065"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9065\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}