Tobacco revenue helping the RBZ to make foreign payments

The Reserve Bank of Zimbabwe (RBZ) has been able to clear payments to foreign suppliers since farmers started selling their tobacco. This has eased the situation for the mining industry, which imports a lot of its supplies.  Since February, the tobacco auction floors have generated over $200 million dollars.

An executive who spoke to the Financial Gazette said:

There has been a marked improvement since the tobacco selling season started. This tobacco marketing season is usually good for the country,

However, problems are expected to return at the end of the tobacco marketing season.

More: Finacial Gazette