The Reserve Bank of Zimbabwe (RBZ) has denied claims that it intends to force recipients of U.S. dollar-denominated remittances to convert their funds into local currency. The central bank clarified that it has no plans to review its diaspora remittances policy. According to the RBZ, the market had misconstrued a video on social media in which the deputy governor discussed possible ways of boosting remittances. The bank said remittances account for a significant share of Zimbabwe’s foreign currency receipts; therefore, it will prioritize exploring incentives to boost, not hinder, remittance flows.
Zimbabwe Central Bank Denies Forced Remittance Conversion Claims
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