Reserve Bank of Zimbabwe governor John Mangudya has said that people should not panic as the central bank had increased foreign currency allocation for basic commodities to prevent shortages. This comes as consumers are panicking about possible food shortages after some retailers increased the price of basic commodities by huge amounts.
Mangudya said the ccentral bankhad allocated an additional US$30 million a week for basic and essential commodities importation with an additional US$15 million being spent on fuel and electricity imports.
Said Mangudya:
We are making supplementary allocations of US$30 million on a weekly basis for basic and essential imports.
Specifically, fuel is getting US$10 million per week, US$4 million per week for cooking oil raw materials, US$5 million towards electricity and around US$2 million for pharmaceuticals.
Nothing material has changed in the availability of foreign currency. To the contrary, exports have gone up.
Mangudya has also dismissed reports circulating on social media about the shortage of basic goods.
More: Sunday Mail