This Annual Report provides an outline of the role of the Reserve Bank of Zimbabwe (the Bank or RBZ) in its mandate of price and financial system stability. The Report also presents the audited financial statements of the Bank for the year ended 31 December 2019.
The year 2019 was quite challenging for the Zimbabwean economy in terms of inflation and the adverse effects of the devastating drought and cyclone Idai. As a result of these negative developments, the economy declined by 6.5% in 2019, weighed down by negative growth in key sectors, such as agriculture, mining, manufacturing and distribution, hotels, and restaurants. Sectors such as manufacturing took a knock, following the decline in agriculture, due to the forward and backward linkages between the two sectors.