Labour organisation the Zimbabwe Congress of Trade Unions (ZCTU) has urged the government to fire Reserve Bank of Zimbabwe (RBZ) Governor, John Mangudya. The ZCTU is blaming Mangudya for fueling the blackmarket by releasing new bond notes onto the streets. Addressing the media on Tuesday, ZCTU President, Peter Mutasa said:
The spiraling black market can only be blamed on the Reserve Bank of Zimbabwe as the sole monetary authority and government ministries.
How do we explain the existence of millions of mint crisp bond notes on the streets when the banks are only issuing the smallest coin denominations?
Mangudya must explain to the nation how these huge sums of money are ending up in the hands of a few individuals.
It is our view that the Reserve Bank of Zimbabwe is responsible for fueling the black market as no ordinary citizen would access such huge amounts of money when banks have withdrawal limits known to all and sundry.