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The House She Built a Source of Conflict

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There was a time when everything seemed to be going right for Amara . She was a beautiful woman, not only in appearance but in the way she carried herself. She grew up in a loving home, surrounded by parents who worked hard and believed that their children should never lack opportunities. Her father was a respected man who worked tirelessly to provide for the family, while her mother was equally hardworking. They raised their daughters with discipline, kindness, and the belief that education and hard work were the keys to a good life. Amara was the elder daughter. Her younger sister, Nadia , was also intelligent and ambitious. The two sisters grew up watching their parents work together, and they learned an important lesson from them: nothing worthwhile comes without sacrifice. As the years passed, both sisters became successful in their own ways. Amara worked hard, saved her money, and eventually achieved something she had dreamed about since she was young. She bought a beauti...
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2 SHARES Africa 3Zimbabwe gets $961m in IMF Special Drawing Rights – govt

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 Part of $650bn the IMF is distributing to its members.

Image: AdobeStock

Zimbabwe’s government said on Tuesday it has received the equivalent of $961 million in Special Drawing Rights (SDR) from the International Monetary Fund, part of $650 billion the IMF is distributing to its members.

The IMF’s largest-ever distribution of monetary reserves will provide additional liquidity for the global economy, supplementing member countries’ foreign exchange reserves and reducing their reliance on more expensive domestic or external debt.

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SDRs are reserve assets issued by the IMF, backed by dollars, euros, yen, sterling and yuan.

“The immediate effect of this support from the IMF is to increase the foreign exchange reserves position of the country by $961 million,” Finance Minister Mthuli Ncube and central bank governor John Mangudya said in a joint statement.

“This will go a long way in buttressing the stability of the domestic economy.”

Zimbabwe reintroduced its currency, the Zimbabwe dollar, in 2019 after a decade of dollarisation. However, the local unit has struggled for stability amid deep foreign currency shortages in the economy.

The Zimbabwe dollar is officially trading at 86 against the US dollar, but is significantly weaker, at 150 to the greenback, on a thriving black market.

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LOL — how deep into debt trap can a country be plunged into??/

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Well done Zimbabwe, the IMF will not likely see the money again.

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