ZIMBABWEAN stocks are expensive for new investors due to the liquidity challenges faced by the country, international equities advisory firm Exotix has said. Hasnain Malik, Exotix’s managing director for frontier markets, said any consideration of fresh investment in Zimbabwe’s equities is redundant or, at least, a catch- 22 until repatriation flows smoothly again. “Repatriation requires a rebuilding of United States dollar reserves and liquidity, which, in turn, requires re-engagement with international finance,” he said. The southern African country is experiencing chronic cash shortages that prevent businesses from importing the goods they need or repatriating the profits they hope to make, while portfolio investors can’t get their money out of the stock market. Malik said that in the interim, publicly listed…