The year 2020 was, by and large, a challenging one. The first half of 2020 was strenuous as the country, like the world over, had to deal with the effects of the Covid-19 pandemic as well as the rising inflation pressures in the economy...The financial statements of the Bank attached to this Annual Report show an inflation adjusted surplus of ZW$7 billion in 2020.
This Annual Report provides an outline of the role of the Reserve Bank of Zimbabwe in its price and financial system stability mandate. The Report also presents the audited financial statements of the Bank for the year ended 31 December 2019.
Notwithstanding the build-up in inflationary pressures, particularly during the last quarter of 2018, the banking sector remained safe and sound and continued to show resilience as indicated by general financial sector stability.
As Monetary Authorities, we strongly believe that price stability, a smooth payments system, improved ease of doing business and investor confidence are important pillars for reviving the growth prospects of the economy, in order to realise the national vision of becoming a middle income country by 2030.