Leading Zimbabwean asset management company, Imara has said that the government needs to address the economic crisis urgently instead of doing international road shows. In an update to investors, the company said that kicking the can down the road will not work.
Said Imara:
Key economic decisions need to be made urgently rather than focus on international roadshows to entice foreign Governments and investors who also await a change in monetary policy before making their move. Kicking the can down the road is no longer an option.
…Despite a number of policy pronouncements, none of them addressed the central issue within the economy, the currency. Indeed the Budget for 2019 reiterated that the US dollar should continue to be pegged one for one to the RTGS dollar (RTGS$) in an attempt to maintain the currency illusion despite the black market and the Old Mutual Implied Rates (OMIR) suggesting otherwise.
More: newZwire