HomeBusiness

Stop Printing Money In Order To Save The Economy: CZI Advises RBZ

6 years agoThu, 05 Oct 2017 08:15:02 GMT
Share on FacebookShare on TwitterShare on LinkedIn
Stop Printing Money In Order To Save The Economy: CZI Advises RBZ

 

The Confederation of Zimbabwe Industries (CZI) has called on the Reserve Bank of Zimbabwe to stop printing money through the RTGS system. CZI warned that such actions resulted in inflation and destabilisation of the economy.

Jimmy Psillos, chairperson of the economics and banking committee at CZI said:

We have a large pool of RTGS liquidity, $2 billion in RTGS.

What can we do with this RTGS liquidity? What instruments can we invest in so that we can guarantee the market that RTGS liquidity is frozen at some level and it gives people confidence? We can control RTGS liquidity. Why are people worried? There is a lot of uncertainty and the reason is inflation (created by the RTGS balances).

Latest Tecno Pop 8 - now available in Pindula.

$94, Cash on Delivery in Harare & Bulawayo.

WhatsApp: 0783 450 793

In recent years, inflation has mounted, so people are worried. We know what price controls do, we had a downward spiral. So there is uncertainty about the future — the government revenue, the government deficit. This is what has frightened people.

More: Financial Gazette

Tags

0 Comments

Leave a Comment


Generate a Whatsapp Message

Buy Phones on Credit.

More Deals
Feedback