Zimbabwe has lifted its ban on bank lending, the central bank has announced, more than a week after the government froze loans in a move it said was meant to stop speculation against a rapidly devaluing local currency.
The government said at the time it had started investigating unnamed speculators for taking out Zimbabwe dollar bank loans to buy foreign currency on the black market, driving the local currency’s value lower.
“The Bank wishes to advise the public that the temporary suspension of lending services by banks has been lifted with immediate effect,” the central bank said in a statement on Tuesday.
