Zimbabwe Government Hoping To Boost Dollar Reserves After Leaf Sales

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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