#MPC Statement: "No One Will Take Zimbabwe's Statements Seriously" - Finance Experts

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#MPC Statement: "No One Will Take Zimbabwe's Statements Seriously" - Finance Experts

ZFN Zimbabwe, provider of research, investor relations and purveyor of information on the Zimbabwean capital market has urged authorities to have honest assessments on the contemporary situation.

The organisation speaks when the Monetary Policy Committee announced recently that “key basic economic fundamentals remain sound when the reality on the ground suggests otherwise.

ZFN Zimbabwe is of the view that publishing inaccurate statements is bad for the image of the country. It posted on Facebook:

We have inflated our way to hyper-levels and decided the best thing was to stop announcing annual figures; exchange rates in the real world away from the controlled interbank is in the 20s, and most companies are barely managing as a result of collapsing demand and rising cost of doing business.

Yet to those who should know better the economic indicators are “sound”. We need to be more honest on our assessments otherwise soon (if it hasn’t happened already) no one will take such statements seriously.

Other analysts argue that the new notes which the central bank, the Reserve Bank of Zimbabwe intends to introduce are only for impression management and are not effective as far as addressing the socio-economic challenges on the ground are concerned.

More: ZFN Zimbabwe



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