Zimbabwe's farmers will be paid half of their earnings in US dollars, amongst fears they would withhold their crop, reports Business Live.

As the largest grower of tobacco in Africa, Zimbabwe relies heavily on the tobacco trade which brought in more than USD 500 million last year. However, due to a lack in confidence in the local currency, there were worries farmers would withhold their crop unless they were guaranteed pay in a hard currency. The Reserve Bank of Zimbabwe (RBZ) has now agreed to pay the tobacco farmers half of their earnings in US dollars, according to Business Live.
The government had made a similar promise last season but failed to deliver as forex shortages continued. This year, the RBZ has promised farmers will be allowed to keep money in their foreign currency accounts and conduct limitless foreign transfers, reports Business Live
“The 50% foreign currency portion shall be paid directly into the growers’ foreign currency bank accounts, and the 50% local currency portion directly into the growers’ local currency bank accounts or e-wallets on the day of the sale,” a joint statement from the RBZ and the TIMB said.