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Zimbabwe’s central bank announced Wednesday it would accept the Chinese yuan and three other Asian currencies as legal tender as economic relations have improved in recent years.
Exporters and the public can now open accounts in yuans, Australian dollars, Indian rupees and Japanese yens, Dhliwayo said. Zimbabwe abandoned its worthless currency in 2009.
It accepts the US dollar and the South African rand as the main legal tender. Their use has helped to stabilize the economy after world-record inflation threw it into a tailspin.
Independent economist Chris Mugaga said the introduction of the Asian currencies would not make a huge difference to Zimbabwe’s struggling economy.
“It is Zimbabwe’s Look East Policy, which has forced this, and nothing else,” he said.
President Robert Mugabe has sought to boost economic relations with Asia after his relations with the West came under strain over his policy of seizing white-owned farms.
Chinese investors have over the past two decades entered diamond mining, construction and retail sectors in the south-east African country.
Ghana’s economy grew 6.1 percent year-on-year in the second quarter of 2013 and its provisional full-year growth is seen at 7.4 percent.
It’s Gold-,cocoa-and oil-producing nation’s gross domestic product (GDP) would grow 7 percent in 2013, less than the 8 percent the government predicts.
it is possible for Ghana to achieve the government’s targeted growth in 2013 on expected increases in oil production.
Non-oil GDP was 5.8 pct, while the total value and services amounted to $44.2 billion with a per capita income of $1,667.
The services sector recorded the highest growth of 9.2 percent, followed by the industry sector 2.5 pct while the agriculture sector showed a negative growth of 3.9 percent.
Economic Growth OF Ghana Has Facilitated Unlimited Job Opportunities In Ghana For Indian Expats.