Constitutional law expert and academic, Alex T. Magaisa says that the success of today’s monetary policy statement (MPS) will depend on how much business and the public trust Reserve Bank of Zimbabwe governor John Mangudya and Finance Minister Myhuli Ncube. Wrote Magaisa:
Money is one of the myths or imagined realities the success of which according to Yuval Harari, depends on the numbers that believe in it. Like all myths, it has to be persuasive enough to draw wider belief. This is the task that awaits the Zimbabwean monetary authorities today.
Myths or imagined realities matter because they provide points of large-scale cooperation. The myth of money facilitates the exchange of goods and services. But people must have faith in it. It must be believable. But those who weave the myths must command trust.
The myth-makers of our monetary policy are John Mangundya, Mthuli Ncube, led by Mnangagwa and his government. The success of their myth will also depend on how much they can be trusted, among other factors. For more on Harari and myths read Sapiens – A Brief History of Humankind.
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Professor Mthuli Ncube is the Minister of Finance and Economic Development.He was the Chief Economist and Vice President of the African Development Bank ,financial, economics, investment, and public policy expert, entrepreneur and academic. Professor Ncube divides his time between the private sector in Switzerland and... Read More About Mthuli Ncube
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