Parliament summons Mangudya to explain issues surrounding payment of tobacco farmers

Parliament has summoned Reserve Bank of Zimbabwe (RBZ) governor Dr John Mangudya and Tobacco Industry Marketing Board (TIMB) chief executive officer Andrew Matibiri to explain the issues surrounding the payment of tobacco farmers.

This comes at a time when Zimbabweans are advocating for the adoption of the South African rand. An economist with a local commercial bank, Joseph Mverecha, told the Daily News yesterday that the country only has two options left; either a full scale return to the Zimbabwean dollar or the rand. Economics professor Ashok Chakravarti also said to adopt the rand Zimbabwe needs a simple law or a statutory instrument from government with an exchange rate re-denomination of all US dollar balances, salaries and prices. Economic analyst Vince Musewe also told the Daily News it makes sense to adopt the rand.

More: Daily News