Zimbabwe Reserve Bank Makes Shocking Announcements

Описание: Exploration of a Central Bank Digital Currency (CBDC): Investigating the launch of a digital version of the currency to modernize the financial system.

Transition to Mono-Currency Regime: Actively preparing the legal and economic groundwork to remove the multi-currency system and make the local currency (ZiG) the sole currency for all transactions.

New Electronic Foreign Exchange Trading Platform: Launching a digital trading system to replace current methods, aimed at improving transparency and allowing the market to discover the true price of the currency.

Establishment of an RBZ Academy: Building a dedicated training institution focused on leadership development and specialized banking skills to solve human capital shortages.

Creation of a Unified Data Warehouse: Constructing a centralized digital repository to consolidate all banking data, moving away from fragmented storage systems.

Implementation of the FPAS System: Deploying a new technical system called the Forecasting and Policy Analysis System to scientifically predict economic trends rather than relying on manual or older estimation methods.

Completion of Balance Sheet Clean-up: Finalizing the physical transfer of the bank's debts and "quasi-fiscal" activities to the Treasury to leave the central bank debt-free.

Adoption of Basel III Standards: Enforcing the specific international banking regulations (Basel III) that dictate strict capital requirements for banks to ensure safety.

Alignment with OECD Standards: Changing capital flow rules to specifically match the standards of the Organisation for Economic Co-operation and Development, making it easier for international investors to recognize the regulatory environment.

5% Currency Circulation Mandate: Executing a plan to force the physical amount of local currency (ZiG) in circulation to rise to at least 5% of total deposits.

3–6 Month Import Cover Target: A fixed goal to accumulate enough gold and foreign currency reserves to pay for 3 to 6 months of national imports by 2030.