The development comes at a time when the economy is facing a debilitating liquidity crunch, foreign currency shortages, currency volatility and runaway inflation, which has soared to 256,9% in July this year, up from 56,37% during the same period last year. The number of job losses has been worsened by the impact of Covid-19 as some sectors, such as tourism are still trying to recover from the devastating impact of Covid-19-induced lockdowns on its operations.

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