Bloomberg Zimbabwe’s government has ruled out adopting the US dollar as the country’s sole official currency, terming it “suicidal,” the state-run Sunday Mail reported, citing Finance Minister Mthuli Ncube. Ncube said such a move could result in foreign currency deficits and deflation for the African nation. “We cannot adopt the United States dollar alone as the official currency,” Ncube told ...

Bloomberg Paraguay’s central bank surprised economists by delivering its biggest interest rate increase in a decade as rising prices for food and imported fuel push inflation well above target. The central bank’s board unanimously voted to tighten by 125 basis points to push its key rate to 2.75%. The decision followed a 50 basis-point hike last month and a 25 ...

Bloomberg The finance industry is ratcheting up pressure on Hong Kong to ease its strict quarantine rules and abandon its zero-Covid-19 policy after a survey found almost half of major international banks and asset managers are contemplating to move staff or functions out of the city. In a letter sent over the weekend to Financial Secretary Paul Chan that was ...