Success Of Mangudya's MPS Depends On How Much He Can Be Trusted - Magaisa

Constitutional law expert and academic, Alex T. Magaisa says that the success of today’s monetary policy statement (MPS) will depend on how much business and the public trust Reserve Bank of Zimbabwe governor John Mangudya and Finance Minister Myhuli Ncube. Wrote Magaisa:

Money is one of the myths or imagined realities the success of which according to Yuval Harari, depends on the numbers that believe in it. Like all myths, it has to be persuasive enough to draw wider belief. This is the task that awaits the Zimbabwean monetary authorities today.

Myths or imagined realities matter because they provide points of large-scale cooperation. The myth of money facilitates the exchange of goods and services. But people must have faith in it. It must be believable. But those who weave the myths must command trust.

The myth-makers of our monetary policy are John Mangundya, Mthuli Ncube, led by Mnangagwa and his government. The success of their myth will also depend on how much they can be trusted, among other factors. For more on Harari and myths read Sapiens – A Brief History of Humankind.

Read Also:

• Magaisa Slams Mnangagwa For Not Consulting Presidential Advisory Council Appointees,