Selected Economic Indicators International Commodity Prices Merchandise Trade Developments Monetary Developments...

Transcription

1 DECEMBER i

2 TABLE OF CONTENTS Selected Economic Indicators... 2 International Commodity Prices... 3 Merchandise Trade Developments... 4 Monetary Developments... 6 Stock Market Developments... 7 Inflation Outturn... 8 National Payments System Developments

3 SELECTED ECONOMIC INDICATORS November December Month-on- Month Change (%) Z.S.E. Mining Index Z.S.E. Industrial Index National Payment System Transactions (US$ millions) Money Supply (US$ millions) Money Supply (M3) Annual Growth 2 (%) Yearly Inflation 3 (%) Monthly Inflation 3 (%) Nominal Lending Rate 2 (% per annum) Sources: 1. Zimbabwe Stock Exchange (ZSE) 2. Reserve Bank of Zimbabwe (RBZ) 3. Zimbabwe National Statistics Agency (ZIMSTAT) 2

4 COPPER US$/TON NICKEL US/TON INTERNATIONAL COMMODITY PRICE DEVELOPMENTS During the month of December, international commodity prices of precious and base metals were generally subdued, owing to weak investment demand. Crude oil prices, however, firmed following global supply disruptions due to geopolitical tensions in the Middle East. Precious Metals Precious metal prices were weighed down by a stronger U.S dollar, as investors shifted their focus to interest bearing assets, amid progress on U.S tax overhauls. This followed interest rate hikes by the Federal Reserve effected in December. Gold prices retreated by 1.45%, from US$1,282.89/oz recorded in the previous month to US$1,264.26/oz, during the month under review. Similarly, platinum prices decreased by 2.67%, to US$909.08/oz in December from US$934.02/oz in November. Base Metals Base metal prices were generally depressed during the month of December, as the US interest rate hike dampened their demand prospects. Rising global stockpiles and slowing demand from China, the world s largest consumer of base metals, also exerted downward pressure on the prices. Consequently, copper and nickel monthly average prices slumped by 0.51% and 5.39% to US$6,828.97/tonne and US$11,436.94/tonne, respectively. Figure 2: Base metal prices Dec-16 Feb-17 Apr-17 Jun-17 Aug-17 Oct-17 Dec Figure 1: Precious metal prices Source: Bloomberg, Brent Crude Oil Copper Nickel Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Gold Platinum Sep-17 Oct-17 Nov-17 Dec-17 Crude oil prices maintained a positive trajectory, registering a 1.67% increase to US$63.85/barrel, during the month under review. This was underpinned by fears of supply disruptions, following news of a pipeline explosion in Libya, which reduced oil production by barrels a day. Source: Bloomberg, 3

5 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 US$ BILLIONS % Figure 3: International crude oil prices 10.0 Figure 8: Money Supply Source: Bloomberg, MONETARY DEVELOPMENTS 1 Broad money supply 2 stood at US$ million in December, registering an annual growth of 43.77%, from $ million in December. The growth was due to increases in transferable deposits, 56.29%; and negotiable certificates of deposits 3, 9.13%. Time deposits, however, declined by 4.75%. Bond notes and coins in circulation increased from $70.17 million in December, to $ million in December. M3 M3 Annual Growth rate Source: Reserve Bank of Zimbabwe, Broad money comprised of transferable or transitory deposits, 77.77%; time deposits, 17.29%; currency in circulation, 4.09%; and negotiable certificates of deposits, 0.85%, during the month under review. On a monthly basis, broad money increased by 1.07%, from US$ million in November to US$ in December. 1 Provisional figures 2 Beginning January, broad money is redefined using IMF s Monetary and Financial Statistics Manual of The major change is the exclusion of Government deposits held by banks from broad money. 3 NCDs are also referred to as securities included in broad money. 4

6 Figure 9: Composition of Money Supply November Other Deposits (Time) 17.29% NCDs 0.85% Bond Notes and Coins 4.09% Figure 10 : Sectoral Distribution of Credit Transport and Communication, 1.6% Mining, 4.8% Construction, 2.0% Other, 0.5% Households 23.4% Financial Organisati ons, 11.0% Transferable Deposits 77.77% Source: Reserve Bank of Zimbabwe, Bank lending to local economic agents recorded a 43.07% increase, from $ million in December to $ million in December. The growth was largely driven by a 73.91% expansion in net credit to Government. On a month-on-month basis, domestic credit grew by 2.32%, from $ million in November to $ in December. Credit to the private sector increased by 5.83%, from $ million in December to $ million in December. On a monthon-month basis, credit to the private sector recorded a modest growth of 0.67%, from $ million in November to $ in December. Distribution, 12.6% Services, 14.1% Manufacturing, 11.6% Source: Reserve Bank of Zimbabwe, During the month under analysis, outstanding credit to the private sector was distributed as follows: households, 23.40%; agriculture, 18.44%; services, 14.13%; distribution, 12.58%; manufacturing, 11.57%; financial organisations and investments, 10.97%; mining, 4.77%; construction, 2.04%; transport; and communications, 1.57%. Private sector credit was utilised for inventory build-up, 28.1%; consumer durables, 19.1%; fixed capital investment, 9.7%; and pre and post shipment financing, 1.1%. Amounts channelled towards other recurrent expenditures constituted 39.1% of the total outstanding loans and advances, during the month under review. STOCK MARKET DEVELOPMENTS Agriculture, 18.4% The Zimbabwe Stock Exchange (ZSE) was characterized by bearish sentiments during the month of December. Trading on the local bourse was dominated by low activity in some selected heavyweight counters, largely due to investor profit-taking and portfolio rebalancing, 5

7 31-Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec-17 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Volumes Traded (Millions) Values Traded (US$ Millions) ahead of the impending new trading year. Resultantly, the mainstream index declined by 11.59%, to close the month under review at points. The resources index, however, registered a 12.25% increase to close the year at points Figure 11: ZSE Indices million, compared to net outflows of US$19.76 million in November. Figure 2: ZSE Monthly Volumes and Values Traded 1, Industrial Mining Source: Zimbabwe Stock Exchange, Share trading volumes increased by % to million in December, compared to million registered in November. This was largely due to notable block trades in Nicoz Diamond, First Mutual Properties, OK Zimbabwe and Meikles shares. The block share trades were as follows; Nicoz Diamond (354.4 million); First Mutual Properties (111.1 million); OK Zimbabwe (40.2 million); and Meikles (2.25 million), which exchanged hands at 3.97 cents; 5.70 cents; 20 cents; and cents, respectively. Turnover value, however, declined by 63.73%, from US$ million realized in the previous month to US$75.27 million in December. Foreign portfolio investment improved in December, with net inflows at US$4.93 Source: Zimbabwe Stock Exchange, Developments on the local bourse, during the month under review, resulted in a US$1.20 billion loss in capitalisation, to close at US$9.58 billion. On a year-on year basis, however, the ZSE capitalization increased by %. INFLATION OUTTURN Annual Inflation Volume Turnover The annual headline inflation remained in the projected levels, increasing by 0.49% to 3.46% in December. This was occasioned by increases in both food and non food items. Annual food inflation increased from 5.65% in Novemebr, to 6.60% in December. Non-food inflation also rose, from 1.74% in November to 2.00% in December. 6

8 VALUE IN US$ BILLIONS VOLUME IN THOUSANDS Figure 12 shows annual inflation developments Source: ZIMSTAT, Monthly Inflation Month-on-month inflation stood at 0.53% in December, down from 0.7% in November. This was on the back of a slowdown in prices of both food and non-food categories Source: ZIMSTAT, Figure 12: Annual Inflation (%) Headline Inflation Food Non Food Figure 13: M -O-M Inflation Monthly food inflation declined from 1.74% in November to 1.29% in December. Declines in prices of bread and cereals, vegetables, sugar, jam, and honey weighed down food inflation. Month-on-month non-food inflation also declined, from 0.26% in November to 0.16% in December. This was largely driven by declines in housing, water, electricity, gas and other fuels. NATIONAL PAYMENTS SYSTEM The value of transactions processed through the National Payment System (NPS) stood at US$11.6 billion in December, compared to US$11.2 billion in November. In volume terms, total NPS transactions registered an increase of 19%, from million in November to million in December. Zimbabwe Electronic Transfer Settlement System (ZETSS) The value of transactions processed through the RTGS system decreased by 6.1%, from US$6.26 billion in November to US$5.88 billion in December. RTGS transaction volumes, also registered a 9% decline to close the month under review at transactions Figure 14: ZETSS Volumes and Va lues Volume Value Source: Reserve Bank of Zimbabwe,

9 Cash transactions The total value of cash transactions was higher at US$ million in December, compared to US$ million in November. Mobile and Internet Based Transactions Mobile and internet based transactions also increased to US$ 4.1 billion in December, from US$3.36 billion in November. Card Based Transactions The total value of card based transactions stood at US$ million during the month under review, up from US$ million recorded in November. Cheque Transactions During the month of December, the value of cheque transactions decreased to US$3.6 million, from US$4.88 million in November. FEBRUARY 2018 RESERVE BANK OF ZIMBABWE 8

10 Statistical Tables Monetary Statistics 1. Depository Corporations Survey Central Bank Survey Other Depository Corporations Survey 14 Other Depository Corporations 4.1 Assets Liabilities 16 Commercial Banks 5.1 Assets Liabilities 18 Building Societies 6.1 Assets Liabilities 20 Sectoral Analysis of Bank Loans and Advances and Deposits 7.1 Sectoral Analysis of Commercial Banks Loans and Advances Sectoral Analysis of Commercial Banks Deposits 22 Interest Rates 8.1 Lending Rates Banks Deposit Rates 24 Inflation 9.1 Monthly Inflation Yearly Inflation 26 External Statistics 10. Total External Debt Outstanding by Debtor Exchange Rates 28 9

11 12. Zimbabwe Stock Exchange Statistics National Payments System Statistics 13.1 Values of Transactions Volumes of Transactions Merchandise Trade Statistics 32 10

12 TABLE 1: DEPOSITORY CORPORATIONS SURVEY (US$ '000) Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Net Foreign Assets -556, , , , , , , , , , , , , Central Bank(net) -574, , , , , , , , , , , , , Foreign Assets 411, , , , , , , , , , , , , Foreign Liabilities 985, ,033, ,034, ,004, ,004, ,005, , ,053, ,067, ,086, ,066, ,186, ,397, Other Depository Corporations(net) 18, , , , , , , , , , , , Foreign Assets 297, , , , , , , , , , , , , Foreign Liabilities 279, , , , , , , , , , , , , Net Domestic Assets (NDA) 6,194, ,248, ,345, ,438, ,630, ,768, ,066, ,190, ,656, ,010, ,287, ,738, ,941, Domestic Claims 7,481, ,456, ,606, ,693, ,850, ,109, ,430, ,563, ,041, ,445, ,806, ,290, ,703, Claims on Central Government(net) 3,597, ,711, ,859, ,839, ,019, ,168, ,429, ,583, ,963, ,262, ,558, ,980, ,257, Claims on Central Government 3,758, ,790, ,939, ,952, ,118, ,265, ,543, ,702, ,092, ,358, ,642, ,055, ,392, Central Bank 2,337, ,270, ,355, ,337, ,444, ,578, ,781, ,976, ,253, ,386, ,558, ,826, ,965, ODCs 1,421, ,519, ,584, ,614, ,673, ,687, ,761, ,726, ,838, ,971, ,084, ,229, ,426, Less Liabilities to Central Government 160, , , , , , , , , , , , , Central Bank 118, , , , , , , , , , , , , ODCs 42, , , , , , , , , , , , , Claims on Other Sectors 3,883, ,744, ,746, ,853, ,831, ,941, ,001, ,979, ,078, ,183, ,247, ,310, ,446, Other Financial Corporations 82, , , , , , , , , , , , , State and Local Government 34, , , , , , , , , , , , , Public Non Financial Corporations 253, , , , , , , , , , , , , Private Sector 3,513, ,371, ,378, ,491, ,432, ,506, ,510, ,479, ,583, ,636, ,690, ,693, ,718, Central Bank 16, , , , , , , , , , , , , ODCs 3,497, ,355, ,357, ,469, ,413, ,486, ,489, ,457, ,553, ,612, ,661, ,663, ,693, Other Items(Net) 1,286, ,208, ,260, ,254, ,220, ,341, ,363, ,373, ,384, ,435, ,519, ,551, ,761, Shares and Other Equity 1,470, ,471, ,481, ,505, ,501, ,530, ,547, ,546, ,561, ,584, ,635, ,657, ,770, Liabilities to Other Financial Corporations 45, , , , , , , , , , , , , Restricted Deposits 60, , , , , , , , , , , , , Deposits and Securities Excluded from Base Mo Other Items(net) -289, , , , , , , , , , , , , Broad Money-M3 5,638, ,663, ,771, ,879, ,116, ,200, ,491, ,564, ,075, ,460, ,687, ,020, ,106, Securities Other than Shares Included in Broa 62, , , , , , , , , , , , , Broad Money-M2 5,575, ,612, ,712, ,819, ,053, ,138, ,426, ,497, ,004, ,404, ,624, ,953, ,037, Other Deposits 1,471, ,544, ,552, ,529, ,530, ,558, ,538, ,600, ,604, ,571, ,460, ,450, ,401, Narrow Money-M1 4,103, ,067, ,159, ,289, ,522, ,580, ,887, ,897, ,399, ,832, ,163, ,503, ,635, Transferable Deposits 4,033, ,985, ,046, ,147, ,369, ,404, ,690, ,696, ,199, ,589, ,875, ,184, ,303, Currency Outside Depository Corporations 70, , , , , , , , , , , , , Source: Reserve Bank of Zimbawe Notes: (i) Depository corporations survey - formerly Monetary Survey. (ii) Broad money redefined using IMF's Monetary and Financial Statistics Manual of Major changes include exclusion of Government deposits held by banks from broad money. (iii) Transferable deposits made up of demand and savings deposits. (iv) NCDs are also referred to as securities included in broad money. (v) All classes of time deposits, short and long term are classified as time deposits, which are also termed other deposits. (vi) Credit to the private sector now excludes claims on other financial corporations, as well as claims on state and local government (local authorities) (vii) Depository corporations made up of the Central Bank and other depository corporations (viii) Other depository corporations (ODCs) - Commercial banks, merchant banks, building societies and POSB. (ix) In December, the statistics were adjusted in restrospect by reclassifying Securities issued under Aftrades from claims on government to claims on central bank (x) In December, the statistics were adjusted in restrospect by reclassifying amounts accessed by banks under the Aftrades from liabilities to Other Depository corporations and Other Financial Corporations to liabilities to Central Ban 11

13 TABLE 2: CENTRAL BANK SURVEY (US$'000) Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Net Foreign Assets -574, , , , , , , , , , , , , Claims on Non Residents 411, , , , , , , , , , , , , Official Reserves Assets 310, , , , , , , , , , , , , Other Foreign Assets 101, , , , , , , , , , , , , Less Liabilities to Non Residents 985, ,033, ,034, ,004, ,004, ,005, , ,053, ,067, ,086, ,066, ,186, ,397, Short Term Liabilities 515, , , , , , , , , , , , , Other Foreign Liabilities 470, , , , , , , , , , , , , Net Domestic Assets (NDA) 2,046, ,083, ,193, ,188, ,257, ,349, ,521, ,737, ,999, ,105, ,256, ,578, ,663, Domestic Claims 2,418, ,450, ,572, ,546, ,684, ,853, ,030, ,245, ,502, ,713, ,917, ,231, ,417, Net Claims on Central Government 2,218, ,244, ,330, ,312, ,422, ,556, ,740, ,935, ,213, ,346, ,517, ,785, ,925, Claims on Central Government 2,337, ,270, ,355, ,337, ,444, ,578, ,781, ,976, ,253, ,386, ,558, ,826, ,965, Of which: Securities Other than Shares 566, , , , , , , , , , ,105, ,153, ,478, Loans 1,771, ,693, ,792, ,785, ,911, ,041, ,160, ,336, ,576, ,745, ,452, ,672, ,486, Loans and Advances 1,413, ,335, ,435, ,464, ,590, ,720, ,839, ,014, ,255, ,426, ,133, ,354, ,210, Legacy Debt 357, , , , , , , , , , , , , Less Liabilities to Central Government 118, , , , , , , , , , , , , Of which: Deposits 118, , , , , , , , , , , , , Other Claims on Other Sectors 199, , , , , , , , , , , , , Other Financial Corporations 16, , , , , , , , , , , , , State and Local Government Public Non Financial Corporations 166, , , , , , , , , , , , , Private Sector 16, , , , , , , , , , , , , Claims on Other Depository Corporations 138, , , , , , , , , , , , , Of which: Loans 138, , , , , , , , , , , , , Other Liabilities to ODCs 296, , , , , , , , , , , , , Of which: Aftrades Balances 209, , , , , , , , , , , , , Securities , , , , Other Items(Net) 213, , , , , , , , , , , , , Shares and Other Equity 198, , , , , , , , , , , , , Other Items(Net) -89, , , , , , , , , , , , , Liabilities to Other Resident Sectors 43, , , , , , , , , , , , Deposits and Securities Excluded from Base 60, , , , , , , , , , , , , Monetary Base Incl. foreign currency clearing balances Monetary Base 1,472, ,499, ,604, ,604, ,659, ,725, ,948, ,064, ,364, ,461, ,520, ,709, ,665, Bond Coins 13, , , , , , , , , , , , , Bond Notes 72, , , , , , , , , , , , , Liabilities to ODCs 1,385, ,395, ,467, ,446, ,492, ,520, ,728, ,838, ,135, ,166, ,181, ,331, ,285, Reserve Deposits Other 1,385, ,395, ,467, ,446, ,492, ,520, ,728, ,838, ,135, ,166, ,181, ,331, ,285, Private Deposits , , , , , , , , , , , , Source: Reserve Bank of Zimbawe 12

14 TABLE 2 : OTHER DEPOSITORY CORPORATIONS SURVEY ( US '000) Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Net Foreign Assets 18, , , , , , , , , , , , Claims on Non Residents 297, , , , , , , , , , , , , Of Which: Foreign Currency 107, , , , , , , , , , , , , Deposits 189, , , , , , , , , , , , , Other Less Liabilities to Non Residents 279, , , , , , , , , , , , , Of Which: Deposits 142, , , , , , , , , , , , , Loans 137, , , , , , , , , , , , , Other Net Domestic Assets (NDA) 5,549, ,580, ,639, ,709, ,875, ,952, ,280, ,298, ,804, ,083, ,220, ,501, ,576, Domestic Claims 5,062, ,005, ,033, ,146, ,166, ,256, ,399, ,318, ,539, ,732, ,889, ,058, ,286, Net Claims on Central Government 1,379, ,466, ,529, ,527, ,596, ,611, ,688, ,647, ,750, ,916, ,041, ,194, ,331, Claims on Central Government 1,421, ,519, ,584, ,614, ,673, ,687, ,761, ,726, ,838, ,971, ,084, ,229, ,426, Securities 1,403, ,503, ,569, ,598, ,657, ,670, ,713, ,680, ,797, ,930, ,049, ,196, ,397, Loans 17, , , , , , , , , , , , , Other Less Liabilities to Central Government 42, , , , , , , , , , , , , Of which: Deposits 42, , , , , , , , , , , , , Other Claims on Other Sectors 3,683, ,539, ,504, ,619, ,569, ,644, ,711, ,670, ,788, ,816, ,847, ,864, ,954, Other Financial Corporations 65, , , , , , , , , , , , , State and Local Government 34, , , , , , , , , , , , , Public Non Financial Corporations 86, , , , , , , , , , , , , Private Sector 3,497, ,355, ,357, ,469, ,413, ,486, ,489, ,457, ,553, ,612, ,661, ,663, ,693, Claims on the Central Bank 1,643, ,684, ,692, ,734, ,843, ,856, ,034, ,168, ,440, ,495, ,525, ,671, ,604, Currency 16, , , , , , , , , , , , , Other Claims including Reserves 1,626, ,663, ,673, ,721, ,832, ,842, ,027, ,161, ,427, ,483, ,516, ,661, ,591, Liabilities to the Central Bank 68, , , , , , , , , , , , , Other Items(Net) 1,088, ,070, ,044, ,128, ,091, ,117, ,109, ,156, ,154, ,124, ,161, ,177, ,200, Shares and Other Equity 1,271, ,272, ,279, ,301, ,295, ,310, ,325, ,330, ,342, ,356, ,398, ,422, ,530, Liabilities to other ressident sectors 1, , , (115.98) (77.72) 2, , , , , , , Other Items(Net) (185,514.31) (204,536.72) (236,464.66) (173,945.36) (203,081.24) (192,715.24) (218,409.95) (177,748.32) (190,420.99) (243,324.12) (246,366.01) (254,520.08) (335,994.03) Deposits and Securities Included in Broad Money5,567, ,579, ,654, ,734, ,960, ,009, ,278, ,345, ,858, ,177, ,356, ,652, ,738, Deposits Included in Broad Money 5,504, ,528, ,594, ,674, ,897, ,947, ,212, ,279, ,786, ,121, ,293, ,585, ,670, Transferable Deposits 4,032, ,983, ,042, ,144, ,366, ,389, ,673, ,679, ,182, ,550, ,832, ,135, ,268, Money Market Instruments 62, , , , , , , , , , , , , Source:Reserve Bank of Zimbabwe, 13

15 TABLE 4.1: OTHER DEPOSITORY CORPORATIONS -ASSETS US$ millions End of Foreign Debt Securities Loans and Advances Notes Bond & Balances Balances with Balances Other Claims Notes & Coin with Other Depository with on Government 1 Local Governemt Public Enterprises Other 2 Government Local Public Other Institutional Units 3 Other cliams Contigent Assets Other Assets Non Financial Coins RBZ Corporations Foreign Banks Non-residents Securities securities Government Enterprises Assets TOTAL Jan , , ,870.8 Feb , , ,748.9 Mar , , ,887.2 Apr , , ,871.5 May , , ,898.5 Jun , , , ,080.1 Jul , , , ,021.1 Aug , , , ,153.9 Sep , , , ,319.5 Oct , , , ,343.8 Nov , , , ,477.2 Dec , , , ,814.8 Jan , , , ,642.1 Feb , , , ,746.0 Mar , , , ,995.8 Apr , , , ,199.0 May , , , ,307.6 Jun , , , ,702.8 Jul , , , ,654.3 Aug , , , ,125.5 Sep , , , ,303.5 Oct , , , ,564.9 Nov , , , ,955.5 Dec , , , ,317.7 Source:Reserve Bank of Zimbabwe, Notes 1.Government securities includes treasuary bills and bonds 2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits. 3.Includes households, other financial corporations. 14

16 TABLE 4.2 : OTHER DEPOSITORY CORPORATIONS - LIABILITIES US$ millions Deposits Debt Securities Foreign Liabilities Amounts Owing to Capital Contigent Other TOTAL and Liablities Liablities End of Demand Savings Time Deposits Total Deposits Other Depository Government Total RBZ Other Depository Other Finacial Reserves from the public Corporations Corporations Corporations Jan 2, , , , , , Feb 2, , , , , , Mar 2, , , , , , Apr 2, , , , , , May 2, , , , , , Jun 2, , , , , , Jul 2, , , , , , Aug 2, , , , , , Sep 2, , , , , , Oct 3, , , , , , Nov 3, , , , , , Dec 3, , , , , , Jan 3, , , , , , Feb 3, , , , , , Mar 3, , , , , , Apr 3, , , , , , May 3, , , , , , Jun 3, , , , , , Jul 3, , , , , , Aug 4, , , , , , Sep 4, , , , , , Oct 4, , , , , , , Nov 5, , , , , , , Dec 5, , , , , , , Source:Reserve Bank of Zimbabwe, 15

17 TABLE 5.1: COMMERCIAL BANKS -ASSETS US$ millions End of Debt Securities Loans and Advances Foreign Bond Notes Balances Balances with Balances Other Claims Local Public Other Contigent Non Financial Notes & & with Other Depository with on Government 1 Local Governemt Public Enterprises Other 2 Government Government Enterprises Institutional Units 3 Other claims Assets Other Assets Assets Coins Coin RBZ Corporations Foreign Banks Non-residents Securities securities TOTAL Jan , , ,284.4 Feb , , ,158.2 Mar , , ,311.1 Apr , , ,318.6 May , , ,312.8 Jun , , ,439.3 Jul , , ,399.6 Aug , , , ,550.2 Sep , , , ,702.6 Oct , , , ,698.6 Nov , , , ,752.2 Dec , , , ,053.8 Jan , , , ,933.1 Feb , , , ,026.4 Mar , , , ,281.0 Apr , , , ,429.3 May , , , ,515.6 Jun , , , ,869.2 Jul , , , ,829.0 Aug , , , ,228.1 Sep , , , ,440.0 Oct , , , ,604.1 Nov , , , ,966.9 Dec , , , ,253.6 Source:Reserve Bank of Zimbabwe, Notes 1.Government securities include treasuary bills and bonds 2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits. 3.Includes households, other financial corporations, 16

18 TABLE 5.2 : COMMERCIAL BANKS - LIABILITIES US$ millions Deposits Amounts Owing to End of Demand Savings Time Deposits Total Deposits Other Depository Government Total Debt Securities Foreign Liabilities RBZ Other Depository Other Finacial Capital Contigent Other from the public Corporations Corporations Corporations and Liablities Liablities TOTAL Reserves Jan 2, , , Feb 2, , , Mar 2, , , , Apr 2, , , , May 2, , , , Jun 2, , , , Jul 2, , , Aug 2, , , , Sep 2, , , Oct 3, , , Nov 3, , , Dec 3, , , , Jan 3, , , , Feb 3, , , , Mar 3, , , , Apr 3, , , , May 3, , , , Jun 3, , , , Jul 3, , , , , Aug 4, , , , , Sep 4, , , , , Oct 4, , , , Nov 5, , , , Dec 5, , , , Source:Reserve Bank of Zimbabwe, 17

19 TABLE 6.1: BUILDING SOCIETIES -ASSETS US$ millions Foreign Debt Securities Loans and Advances Other Assets Non Financial TOTAL End of Notes Assets Bond & Balances Balances with Balances Other Claims Notes & Coin with Other Depository with on Government 1 Local Governemt Public Enterprises Other 2 Mortgages Government Other Coins RBZ Corporations Foreign Banks Non-residents Securities securities Jan ,345.3 Feb ,351.6 Mar ,343.1 Apr ,311.8 May ,345.3 Jun ,397.7 Jul ,378.9 Aug ,359.7 Sep ,365.6 Oct ,400.9 Nov ,476.7 Dec ,505.1 Jan ,451.4 Feb ,460.4 Mar ,448.6 Apr ,496.8 May ,515.4 Jun ,548.8 Jul ,551.5 Aug ,611.9 Sep ,574.8 Oct ,676.0 Nov ,693.3 Dec ,757.3 Source:Reserve Bank of Zimbabwe, Notes 1.Government securities include treasuary bills and bonds 2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits. 3.Includes households, other financial corporations, 18

20 TABLE 6.2: BUILDING SOCIETIES -LIABILITIES US$ millions Debt Securities Foreign Liabilities Amounts Owing to Capital Other TOTAL and Liablities End of Savings Time Deposits Total Deposits Other Depository Government Total RBZ Other Depository Other Finacial Reserves from the public Corporations Corporations Corporations Jan , Feb , Mar , Apr , May , Jun , Jul , Aug , Sep , Oct , Nov , Dec , Jan , Feb , Mar , Apr , , May , , Jun , , Jul , , Aug , , Sep , , Oct , , Nov , , Dec , , Source:Reserve Bank of Zimbabwe, 19