The Reserve Bank of Zimbabwe (“RBZ”) released a Monetary Policy statement on the 2nd of February 2023 aimed at reviewing the current monetary policy measures and outlining the new measures effective for the next 6 months. Notable information published was that foreign currency receipts reached an all-time high of US$11.6 billion and the bank policy rate was revised downwards to 150%.Amidst the multiple policy measures presented by the governor, this article focuses on the key issues that affect financial reporting for both practitioners and users of financial statements considering these monetary policy measures. The core focus will be on hyperinflationary accounting and the use of exchange rates in financial reporting. Read more……Financial Reporting implications of February 2 Monetary Policy Statement
