By Alois VingaZIMBABWE’s foreign currency receipts reached a whopping US$7.3 billion during the year’s first half period, the Reserve Bank of Zimbabwe (RBZ) latest Monetary Policy Statement (MPS) has revealed.Presenting the Mid-Term Budget Review this week, RBZ governor Dr John Mushayavanhu said total foreign currency receipts for the period January to June 30, 2025, amounted to US$7.3 billion compared to US$5.9 billion received during the same period in 2024 representing a 23.1% increase.The foreign receipts were against foreign payments amounting to US$5.0 billion, a 17% increase from US$4.3 billion reported during the same period in 2024.“In line with increased foreign currency inflows during the first half of 2025, the country’s current account balance is expected to improve from a surplus of US$501.2 million in 2024 to a surplus of US$621.7 million in 2025 The projected surplus will continue to be supported by improvements in merchandise exports and remittances,” he said.The MPS shows that the financial soundness metrics indicate that the banking sector is safe and sound despite some issues of prudential concern at a few institutions.As at June 30, 2025, 17 out of 19 banking institutions reported core capital above the minimum regulatory capital requirements and the non-performing loans ratio stood at 2.89% compared to 3.37% as at 31 December 2024.Official records also show that during the same period, remittances rose to US$635,2 million signaling a 7,1% increase compared to the same period last year.To year end, remittances are projected to increase by 4.9% from US$2.6 billion in 2024 to US$2.7 billion in 2025, sustaining a positive current account balance Given the strategic importance of the diaspora community, the Government seeks to strengthen their role in the development of the country ZIMBABWE’s foreign currency receipts reached a whopping US$7.3 billion during the year’s first half period, the Reserve Bank of Zimbabwe (RBZ) latest Monetary Policy Statement (MPS) has revealed
Presenting the Mid-Term Budget Review this week, RBZ governor Dr John Mushayavanhu said total foreign currency receipts for the period January to June 30, 2025, amounted to US$7.3 billion compared to US$5.9 billion received during the same period in 2024 representing a 23.1% increase The foreign receipts were against foreign payments amounting to US$5.0 billion, a 17% increase from US$4.3 billion reported during the same period in 2024 “In line with increased foreign currency inflows during the first half of 2025, the country’s current account balance is expected to improve from a surplus of US$501.2 million in 2024 to a surplus of US$621.7 million in 2025 The projected surplus will continue to be supported by improvements in merchandise exports and remittances,” he said
The MPS shows that the financial soundness metrics indicate that the banking sector is safe and sound despite some issues of prudential concern at a few institutions As at June 30, 2025, 17 out of 19 banking institutions reported core capital above the minimum regulatory capital requirements and the non-performing loans ratio stood at 2.89% compared to 3.37% as at 31 December 2024 Official records also show that during the same period, remittances rose to US$635,2 million signaling a 7,1% increase compared to the same period last year To year end, remittances are projected to increase by 4.9% from US$2.6 billion in 2024 to US$2.7 billion in 2025, sustaining a positive current account balance
Given the strategic importance of the diaspora community, the Government seeks to strengthen their role in the development of the country.
Source: Newzimbabwe
