The RBZ is reportedly borrowing money offshore to feed the forex auction trading system further increasing its ballooning foreign debt which currently stands at US$4.5 Billion. This was revealed by the CEO of Leon Holdings a financial services company and entrepreneur Tinashe Marupata. Marupata was commenting on an article in the Chronicle when he tweeted:
RBZ has been borrowing money offshore to feed the Auction. This is a patently bad market setting move. The tax payer will assume the exchange rate losses. More worrisome is that RBZ offshore debt is US$4.5bn. Another debt assumption bill.