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Eddie Cross Quits RBZ Due To 'Fatigue And Frustration'

2 years agoFri, 19 Feb 2021 10:47:43 GMT
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Eddie Cross Quits RBZ Due To 'Fatigue And Frustration'

Eddie Cross has quit his role as a member of the Reserve Bank of Zimbabwe (RBZ)’s Monetary Policy Committee (MPC) less than two years into the role, the Zimbabwe Independent reports.

Cross, a former Cold Storage Commission general manager and MDC Member of Parliament confirmed his resignation this week.

He however did not disclose why he quit his role but the Zimbabwe Independent reported banking sector sources this week saying Cross had recently complained about fatigue and frustration at the central bank.

It is understood that the Ministry of Finance and Economic Development had attempted to muzzle him from speaking his mind.

Cross had a penchant for disclosing the RBZ’s plans well before the central bank was ready to communicate its decisions officially.

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In 2019, Cross revealed that a new currency was to be introduced before the RBZ had made an announcement and he was subsequently censured by Information ministry secretary Nick Mangwana.

Cross would also reveal that the RBZ was introducing a ZW$50, ZW$100 and ZW$200 banknotes, with the RBZ later moving to deny that it intended to release banknotes higher that ZWL$50.

Cross’s openness may also have made him persona non grata at the RBZ after he recently told an Alpha Media online forum, The Big Debate that the RBZ was printing ZW$1 billion (US$12,05 million) weekly, mainly to buy gold.

More: Bulawayo24



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