Zimbabwe Government Hoping To Boost Dollar Reserves After Leaf Sales
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Zimbabwe Government Hoping To Boost Dollar Reserves After Leaf Sales

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Added by Headlines Africa in Zimbabwe
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Zimbabwe is likely to produce 205 million kgs of tobacco this year, slightly more than 2016, with sales of its main export likely to improve dollar supplies in the cash-strapped economy. Tobacco earns more than gold and platinum. Zimbabwe is desperately short of dollars due to its moribund economy, although traditionally liquidity improves during the tobacco-selling season as cash is brought into the country. Tobacco buyers had borrowed $700 million offshore to purchase the crop from farmers. Much of the leaf is processed and exported to China, the largest investor in the Southern African country.

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