CHINA-ZIMBABWE: ECONOMY c

 Zimbabwe's Financial Gazette on April 21, 2016, quoted An official of the Reserve Bank of Zimbabwe (RBZ) as saying that "We have seen Chinese from Zimbabwe with suitcases depositing cash with a Chinese bank in Johannesburg. It's not just the currency, it's also ivory and precious stones". He said in 2015, US$ 684 million was “externalized” from Zimbabwe "for various dubious and unwarranted purposes.” Last year the Chinese diamond mining firm Jinan Mining took some $546 million offshore. George Guvamatanga at Barclays Bank Zimbabwe said: "[Chinese] are taking the cash outside the country and depositing it with their banks in South Africa,” which are said to offer more services.

 






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