Zimbabwe Bans Fruit, Vegetable Imports To Save Scarce Forex
Sumaira FH Published October 17, 2017 | 04:05 PM
Zimbabwe has banned the importation of fruit and vegetables to save scarce foreign currency in the face of a worsening economic crisis, state media reported Tuesday
Harare, (UrduPoint / Pakistan Point News - 17th Oct, 2017 ) :Zimbabwe has banned the importation of fruit and vegetables to save scarce foreign Currency in the face of a worsening economic crisis, state media reported Tuesday.
Agriculture Minister Joseph Made told The Herald that President Robert Mugabe had directed that the importation of horticultural products be stopped "as they waste much-needed foreign currency".
"This means that the importation of fruit and vegetables will be stopped immediately." "The foreign currency being wasted on the importation of carrots and grapes will now be utilised towards the purchase of more fertilisers and pesticides," he said.
Zimbabwe in 2009 abandoned its own currency in favour of the US Dollar due to hyperinflation. But it started running out of those Dollars and last year it introduced "bond notes", a parallel currency pegged to the US dollar.
The bond notes themselves are running short, forcing banks to ration cash withdrawals. Government has blamed clandestine dealers running the black market for the shortages of cash and basic commodities.
The country has in recent months experienced basic foodstuffs and sporadic petrol and diesel shortages. The minister did not state how long the ban would last. But for now the country will have to rely on local farmers to produce the vegetables and fruits, he said.
Zimbabwe was once a net food exporter but has been battling to produce enough over the years since Mugabe parcelled large high-production white-owned farms to landless blacks in 2000.
Related Topics
Recent Stories
Selection committee dissolved over Pakistan women cricket team's poor performanc ..
Punjab CM Maryam Nawaz in police uniform at Chung police center
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 25 April 2024
Today Gold Rate in Pakistan 25 April 2024
Mired in crisis, Boeing reports another loss
Session Awarding Ceremony 2024 held at Cadet College Muzaffarabad
Austrian ski great Hirscher to make comeback under Dutch flag
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
FM Dar conveys deepest sympathy on torrential rains devastation in UAE
Spain PM Sanchez says weighing resignation after wife's graft probe
Tennis: ATP/WTA Madrid Open results - 1st update
Long-lost Klimt portrait auctioned off for 30 mn euros
More Stories From Business
-
EXCHANGE RATES FOR CURRENCY NOTES
53 minutes ago -
Foreign exchange rates
1 hour ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 25 April 2024
3 hours ago -
Today Gold Rate in Pakistan 25 April 2024
3 hours ago -
Meta profits soar but costs of AI cause worry
4 hours ago -
Mired in crisis, Boeing reports another loss
12 hours ago
-
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
12 hours ago -
British-Pakistani firm unveils $35 million luxury apartments for overseas Pakistanis in Islamabad
13 hours ago -
European stocks lose momentum after global rally
13 hours ago -
New pulses varieties imperative to cater domestic food requirements: Dr Khalid Hasan
14 hours ago -
CEO KP-EZDMC meets CRBC officials
14 hours ago -
Pakistan among nine poor countries that produces 90 percent cigarettes for world
15 hours ago