Zim Not Ready For Its Own Currency - RBZ Chief, Mangudya

5 years agoSun, 17 Feb 2019 09:52:41 GMT

Zim Not Ready For Its Own Currency - RBZ Chief, Mangudya

The Reserve Bank of Zimbabwe Governor John Mangudya said that Zimbabwe is not ready for the return of a local currency. He also dismissed reports that he had a fallout with Finance Minister Mthuli Ncube.

Below are excerpts of the interview between The Standard senior reporter Xolisani Ncube (XN) and John Mangudya (JM) on Saturday:

XN: What is your comment on reports of a fallout between you and the Finance minister Mthuli Ncube over the monetary policy statement, resulting in delays in its delivery?
JM: There is no fallout between the minister, Honourable Professor Ncube, and myself as alleged.

The whole story is all fiction and fake news of the highest magnitude. The meeting that is alleged to have taken place between officials from the Reserve Bank of Zimbabwe, including myself, with the minister never took place, which means everything else that was alleged to have happened at the non-existent meeting is fiction meant to confuse the market for reasons better known to the so-called “reliable sources”. I don’t stoop that low.
XN: If that is the case, what has caused the delay in the presentation of the monetary policy statement which you once indicated was due early this month?
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JM: There is no delay in the presentation of the monetary policy statement. The last one was done on October 1, 2018.
I am quite aware that the market is waiting for the statement in view of the need to ensure that the economy remains competitive.
We shall soon advise the public of the date for the presentation of the statement. The idea that we have delayed is being peddled by people with an agenda only known to themselves.