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"The central bank will be putting in place measures to ensure accountability of the sector.
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The Reserve Bank of Zimbabwe has raised concern over the non-compliance of the country’s tourism sector to exchange control regulations.
“Exchange Control authorities note with concern that there is generally lack of compliance with the requirement for reporting of transactions at tourism operator levels. This is mainly attributable to the misinterpretation of liberalisation objectives by Authorised Dealers and tourism operators.” Gono said.
He said the central bank will be putting in place measures to ensure accountability of the sector.
“Monetary Authorities shall therefore put in place new monitoring and reporting mechanisms for the Tourism sector to ensure full accounting of foreign exchange receipts.” Gono said.
For the period 1 January 2010 to 30 June 2010, recorded tourism receipts amounted to US$10 million, compared to US$12.28 million realized during the same period in 2009, a 12.3% decrease.
“Exchange Control authorities note with concern that there is generally lack of compliance with the requirement for reporting of transactions at tourism operator levels. This is mainly attributable to the misinterpretation of liberalisation objectives by Authorised Dealers and tourism operators.” Gono said.
He said the central bank will be putting in place measures to ensure accountability of the sector.
“Monetary Authorities shall therefore put in place new monitoring and reporting mechanisms for the Tourism sector to ensure full accounting of foreign exchange receipts.” Gono said.
For the period 1 January 2010 to 30 June 2010, recorded tourism receipts amounted to US$10 million, compared to US$12.28 million realized during the same period in 2009, a 12.3% decrease.
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