Zimbabwe's president threatens to prosecute forex culprits

Zimbabwe's president threatens to prosecute forex culpritsZimbabwean President Emmerson Mnangagwa on Monday named hundreds of mines, Chinese businesses and individuals who had illegally transferred foreign currency abroad during Robert Mugabe's rule and warned they would be prosecuted. The announcement came after the expiry of a three month amnesty for the return of funds including export proceeds, payments for phantom imports and "funds transferred to foreign banks in cash or under spurious circumstances". Authorities say Zimbabwe lost at least $1.4 billion (1.1 billion euros) in revenue as a result.




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