Mthuli Ncube Absent During Monetary Policy Presentation

Finance Minister Mthuli Ncube was absent during Wednesday’s monetary policy statement presentation by central bank governor John Mangudya.

Deputy Information Minister Energy Mutodi was present during the presentation. Mutodi said Ncube and his Permanent Secretary George Guvamatanga are currently in Zambia attending a Board meeting of the Zambezi River Authority. Ncube’s absence follows reports that there was an angry exchange of words between him and Mangudya over the monetary policy statement whose presentation was long overdue. RBZ issued a statement denying reports of a rift between Mangudya and Ncube. In an interview with weekly publication The Standard, Mangudya also denied the report saying:

There is no fallout between the minister, Honourable Professor Ncube, and myself as alleged.The whole story is all fiction and fake news of the highest magnitude. The meeting that is alleged to have taken place between officials from the Reserve Bank of Zimbabwe, including myself, with the minister never took place, which means everything else that was alleged to have happened at the non-existent meeting is fiction meant to confuse the market for reasons better known to the so-called “reliable sources”. I don’t stoop that low.

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