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Friday, 1 August 2008

Zimbabwe's Half Year Monetary Report

Read this document on Scribd: Zimbabwe Half Year MPS 2008

4 comments:

  1. What surprised me was the big jump in US tourist arrivals to Zimbabwe.
    Some highlights:

    9.1 "Limited availability of foreign currency remains a major constraint to the economy's recovery efforts."
    http://www.scribd.com/doc/4371981/Zimbabwe-Half-Year-MPS-2008

    10.1 For the period 1 January to 30 June 2008, total export shipments of goods amounted to USD758.97 million compared to USD882.70 million during the same period in 2007. This represents a 14% decline in exports of goods and services.

    Total Export Shipments (pie chart) (%, million US dollars rounded up or down to the second decimal)

    Mining 53% (402.25mn)
    Tobacco 18% (136.61mn)
    Manufacturing 15% (113.85mn)
    Agriculture 11% (83.49mn)
    Horticulture 2% (15.18mn)
    Hunting 1% (7.59mn)

    14.9 (Domestic Debt)

    Commercial Banks 99%

    However, the pie chart states the following:

    Monetary Banking Sector 95%
    Other 5%

    (Other being: insurance companies, pension funds,
    other banking institutions, private individuals & companies)

    15.1 The Banking Sector has remained generally safe and sound despite the adverse macroeconomic environment.
    15.2 The resilience of the banking sector is underpinned by the continuous enhancement of supervisory methodologies being deployed, as well as the adoption of sound risk management and corporate governance practices by the majority of our banking institutions.

    15.3 Composition of the banking sector (number of)
    Commercial Banks 15
    Merchant banks 6
    Finance Houses 0
    Discount Houses 3
    Building Societies 4
    Total 28

    19.2 The adverse effects of sanctions, high production costs, power
    outages, fuel shortages, shortages of foreign currency and drought
    have largely constrained production, culminating in widespread
    shortages of goods and services, high unemployment and declining
    living standards.

    19.4 Tobacco production is expected to increase marginally from 73
    million kg in 2007 to 75 million kg in 2008. The increase in production is due to better preparations and grower support for
    the crop by Government which resulted in improved yields.

    20.2 Tourist Arrivals

    Origin - Q1 2007 - Q1 2008

    Africa 259105 252948 (-2%)
    Europe 24375 26230 (8%)
    America 7057 42076 (496%)
    Asia 9278 12775 (38%)
    Oceania 5515 6332 (15%)
    Middle East 427 449 (5%)
    Total 3057575 340610 (11%)

    Pretty surprising to see the rise in tourist arrivals, especially from the USA.

    20.5 As Monetary Authorities we once again wish to reiterate that as Zimbabweans, we cannot, and we should not separate the economy and its performance from the politics of the day.

    ReplyDelete
  2. "What surprised me was the big jump in US tourist arrivals to Zimbabwe".

    Whats your theory? Are these undercover agents? Or Aid organisations?

    Or may be they really love Zimbabwe.

    But I would not add too much thought to those numbers. Its quite obvious those are simply people walking over from Livingstone. Zambia's tourism numbers are now 800k...up significantly since 2006, when they stood just around 600k.

    "As Monetary Authorities we once again wish to reiterate that as Zimbabweans, we cannot, and we should not separate the economy and its performance from the politics of the day."

    I just don't get this statement from Gono. Making political statement in the MPS...he's now compromised. I thought Gono could survive the coming cull...but I doubt it..he's tainted..

    ReplyDelete
  3. I just don't get this statement from Gono. Making political statement in the MPS...he's now compromised. I thought Gono could survive the coming cull...but I doubt it..he's tainted..

    He's been making the same statement since 2003.

    Oddly enough, it's absolutely true. The economic performance is linked to the politics of the day.
    You know, like the fact that he thought it was politically good to expand the money supply more than once..

    (That's odder is the biblical references. I've been reading his speeches and policy releases and they're almost always there. I understand some people are believers but in Monetary Reports ?)

    ReplyDelete
  4. So the man is practising blasphemy as well?

    Oh..no..

    Invoking biblical phrases when you are mismanaging the economy...thats just wrong that...

    ReplyDelete

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