March 4, 2019 / 11:04 AM / 3 months ago

Zimbabwe borrowed $2.99 billion from central bank-governor Mangudya

HARARE, March 4 (Reuters) - Zimbabwe government’s borrowing from the central bank reached $2.99 billion in December, about three times its permissible overdraft limit, central bank governor John Mangudya told a committee of parliament on Monday.

President Emmerson Mnangagwa’s government has promised to curb borrowing in 2019 as part of reforms to revive the economy after the budget deficit soared last year following a spike in spending ahead of elections last July. (Reporting by MacDonald Dzirutwe; Editing by Toby Chopra)

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