Published: 01 March 2018

THE central bank this week disclosed that the foreign payment backlog now stretches as far as 12 months for many companies due to a deepening foreign currency crisis, which has restricted the importation of raw materials and equipment.
 
Although the central bank has secured US$1,1 billion facilities from the African Export Import Bank since 2016 to boost exports and support international payments, the country is still struggling with a foreign currency crisis.

- fingaz

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