‘ Debts incurred before the 22nd of February 2019 shall be settled in the local currency ‘ – Supreme Court

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Debts incurred before the 22nd of February 2019 shall be settled in the local currency on 1:1 rate.

The Supreme Court has ruled that all debts incurred before the 22nd of February 2019 shall be settled in the local currency on a one to one basis.



To understand the implications of Malaba's ruling, the Government of Zimbabwe owed local businesses US$9 Billion before the introduction of RTGS$.

The companies will now be paid RTGS$9 Billion instead of +RTGS150 Billion.