We Have Done Well Under Difficult Circumstances: RBZ Governor Mangudya

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


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