Large and listed Zimbabwe corporates have started counting their losses and the wider financial effect of the Covid-19 induced lockdown to the economy after industry and commerce reopened this week under limited operational hours.
Zimbabwe’s economy has taken a pounding during the pandemic, with Zimbabwe registering 34 confirmed cases, five deaths and nine recoveries by Friday morning. Economists, however, have warned that worse fortunes await the economy after the pandemic, with demand projected to remain suppressed amid concerns that companies would start laying off workers as they rationalised and restrategised for lost earnings during the lockdown, which was instituted at the end of last month.
“Price controls will worsen and result in commodity shortages if they are enforced,” said an economist at a Zimbabwe bank. However, according to Chiedza Madzima, head of operational risk at Fitch Solutions, the World Bank’s facility, which “works out to under $0.50 per capita”, was not sufficient to lift Zimbabwe out of its economic mess as worsened by Covid-19.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ramaphosa grants release of 19 000 prisoners to curb the spread of Covid-19President Cyril Ramaphosa has authorised the release of 19 000 prisoners – out of a population of 155 000. Those released include awaiting-trial inmates, who had committed so-called soft crimes, and non-violent offenders, all of whom would be out on
Read more »
World Bank lends $7m to ailing Zimbabwe to fight Covid-19It will get $5m from the World Bank’s global financing facility trust and $2m from funds meant to help Zimbabwe recover from the 2019 cyclone
Read more »
Bonang Matheba postpones new show due to Covid-19Media personality and entrepreneur Bonang Matheba had to postpone a new TV show due to the coronavirus pandemic. IOL_Lifestyle coronavirus
Read more »
Third person dies of Covid-19 in LimpopoLimpopo has recorded its third Covid-19 death in 41 cases.
Read more »
Covid-19 lockdown: Private school enrolments expected to drop as parents lose jobsThe independent school system is bracing itself for low-enrolment numbers because parents are losing their jobs. TheStar_news day42oflockdown
Read more »
Joburg still epicentre of Covid-19 in Gauteng with 971 casesJohannesburg is the most affected district with 971 cases followed by Ekurhuleni with 366 and Tshwane with 224 recorded cases. These were the figures provided on May 5.
Read more »