Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has said that the country’s future looks bright saying that the authorities had done well under difficult conditions in the past. Speaking to the Sunday Mail, Mangudya said
I think we have done well under difficult circumstances and going forward, the outlook is positive. We have passed the hump. Expenditures ahead of elections are very high everywhere in the world and in our case, we have passed this hump. As the central bank, we will continue to solicit for more lines of credit from old and new sources to meet demand which is coming from too much expansion of the economy, hence, putting pressure on the demand for foreign currency.
…We are looking at strengthening the multiple currency systems in order to preserve value in public funds. This is very important as it brings confidence which is very important in the economy. Further, we will put more vigour and rigour on exports to generate more foreign currency for the country. There will be more measures in the Monetary Policy Statement.
More: Sunday Mail
John Panonetsa Mangudya is an economist and the current Reserve Bank of Zimbabwe governor. Mangudya, who sits on many local and international boards .He was made RBZ governor after the expiry of Gideon Gono's term in 2014. He had been CBZ Holdings Ltd Chief Executive... Read More About John Mangudya
The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About Reserve Bank of Zimbabwe