Mangudya Should Honour His Word: CSOs Demand Governor's Head

Civil society organisations (CSOs) have called for the resignation of Reserve Bank of Zimbabwe (RBZ) governor John Mangudya. The CSOs allege that the Mangudya has gone back on his words after he initially promised that there would be no need for separate accounts as bond notes and united states dollars have the same value. However, announcing the mid-term monetary policy Mangudya ordered banks to separate Nostro foreign currency accounts (FCAs) and RTGS FCAs.

In a statement after a meeting on Saturday, the CSOs said

The impact of the announcement of the monetary policy hits harder ordinary citizens as it immediately led to an increase in pricing of basic commodities…CSOs demand that the governor should abide by the commitment he said that if the bond note does not work, he is going to resign. He also said that there was no need of having a separate account and he is now going back on his word. For economic transformation to happen, we need an environment that is predictable.

More: The Standard