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Finance Minister Establishes Monetary Policy Committee

Finance Minister Establishes Monetary Policy Committee

Finance Minister, Professor Mthuli Ncube has established a nine-member Monetary Policy Committee (MPC).

The Committee is expected to restore the scarce public confidence in the monetary policy. Below are the names of individuals in the committee.

  1. SA-based actuary Marjorie Ngwenya, the first non-British and the first person under age 40 to have served as president of the UK’s Institute and Faculty of Actuaries,
  2. Kumbirai Katsande, a former president of the Confederation of Zimbabwe Industries and ex-MD at Nestlé Zimbabwe,
  3. Douglas Munatsi, former CEO of BancABC and a leading farmer,
  4. Theresa Moyo, a professor of Economics who has taught at UZ and the University of Limpopo.
  5. Eddie Cross, an Economist and former opposition MP
  6. Ashok Chakravarti, an economics professor at UZ who also already advises Ncube.
  7. RBZ governor John Mangudya and
  8. RBZ Deputy Governor, Jesiman Chipika and
  9. RBZ Deputy Governor, Kupikile Mlambo.

Following the ban of all foreign currencies on domestic transactions and the reintroduction of the Zimbabwe dollar, the committee has a role of steering monetary policy towards the full reintroduction of a new currency.

Ncube hinted last week that the new currency will be printed as early as this year.

Zimbabwe has been having a hard time with currencies since the abandonment of the original Zimbabwe dollar in 2008 following a record high hyperinflation.

The public has since then been sceptical of the government’s monetary policies and others.

More: Newz Wire

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