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Zim loses $50m to externalisation

HARARE – Zimbabwe lost about $50 million to Illicit Financial Flows (IFFs) in the first quarter of 2016, as cash externalised from the country remains undetected, central bank governor John Mangudya said. This comes as Zimbabwean banks are facing a cash crisis, with the institutions limiting depositors’ withdrawals. IFFs are a form of illegal capital…

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