MPs Demand Explanation From Mthuli, Mangudya On Banknotes Saga

4 years agoFri, 15 Nov 2019 00:46:33 GMT
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MPs Demand Explanation From Mthuli, Mangudya On Banknotes Saga

Parliament says Finance and Economic Development Minister Mthuli Ncube and Reserve Bank of Zimbabwe (RBZ) governor John Mangudya should explain to the House next week issues to do with the leaking of banknotes to the black market.

Makonde legislator Honourable Kindness Paradza told fellow legislators on Thursday that such incidents result in people keeping their cash outside the banking system. He said:

Right now people are not taking their money into the banks because of this current behaviour. So we hope that the Minister comes here to give us a statement as to what happened.

Earlier this week, banknotes flooded the black market immediately after release and this has been a recurring phenomenon whereby streets are awash with cash whilst there is nothing in the banking halls.

Pictures of individuals with loads of newly-released banknotes went viral on social media with observers suspecting the high-placed officials are involved in the illicit cash business.

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