Prepared by Louis Erasmus and Gustavo Bagattini.
The TNF consists of representatives from the government, organized business, and trade unions, and was established in 1998 to achieve consensus on issues of national importance.
See Selected Issues Paper on public enterprises.
Section VI discusses the operations of public enterprises in detail.
In January 2001, the central bank released the total of required reserves to the banking system for on-lending at concessional rates to the export sector (15 percent) and to the productive sectors (30 percent). In November 2002, these rates were further reduced to 5 percent and 15 percent, respectively, although the RBZ announced that the facility would be converted into a revolving fund with a cap of ZS25 billion. The cap was raised to Z$50 billion in the context of the National Economic Revival Program (NERP) of February 2003.
According to the Monetary Policy Statement for 2001, the statutory reserve ratio on demand deposit liabilities was set at 50 percent, and at 20 percent on time and savings deposits.
Using nominal GDP at world prices as measure (1996=100), rather than nominal GDP converted at the current exchange rate in view of the high inflation in Zimbabwe and overvalued official exchange rate.
Exporters could use these funds with RBZ approval for certain import needs as specified in the priority list.