Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has dismissed claims that the bond notes are behind the economic problems in Zimbabwe....
Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has dismissed claims that the bond notes are behind the economic problems in Zimbabwe.
Instead, the governor blamed the economic woes on the lack of foreign currency which resulted in too much money chasing too little foreign currency. Mangudya who is set to deliver his first post-election monetary policy statement today told NewsDay,
 |
| Bond Notes Not The Problem, Issue Is Too Much Money Chasing Too Little Forex: Mangudya |
It is a media fallacy that we have time and again tried to explain, but we have people who seem to have their minds set on a negative perception of things. The bond notes do not increase money supply which is the major driver of inflation. Our problem is too much money chasing too little foreign currency. If you look at it, the parallel market rate for Real Time Gross Settlement (RTGS) or other electronic transactional platforms is much higher than that of bond notes and we cannot, therefore, argue that we must remove this in order to bring order…This is why we are arguing for increased production and exports, that’s the way to go and we must stimulate that side of our economy
.
.
- Advertisement -
- Advertisement -
Have exclusive tea on your favorite stars, breaking drama, or hidden secrets? Don't keep it to yourself! Send your anonymous tips, photos, and wildest rumours to the Gossip Maestro team and let us spill the tea to the world.
Disclaimer:
The information contained on this website is for general entertainment and informational purposes only.
The content is provided by Gossip Maestro: Stars, Drama, Secrets and Hottest Scandals using online sources, anonymous tips, and public commentary. While we endeavour to keep the information up to date, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability of the rumours, gossip, or related graphics contained on the website.
Any reliance you place on such information is therefore strictly at your own risk.
The content is provided by Gossip Maestro: Stars, Drama, Secrets and Hottest Scandals using online sources, anonymous tips, and public commentary. While we endeavour to keep the information up to date, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability of the rumours, gossip, or related graphics contained on the website.
Any reliance you place on such information is therefore strictly at your own risk.
The drama doesn't stop here! Follow Gossip Maestro on our social media platforms to get real-time updates on the hottest scandals, exclusive celebrity secrets, and unapologetic entertainment news as it happens.
- Advertisement -
