Govt Will Raid Foreign Currency Accounts: Tendai Biti Warns

Former Finance Minister Tendai Biti has warned Zimbabweans keeping their money in Nostro Foreign Currency Accounts risk having their money seized by Government.

He said Government will expropriate foreign currency in citizens’ accounts when it runs out of the United States dollar. He said this during an analysis of the 2019 Monetary Policy Statement presented by RBZ governor John Mangudya on Wednesday. Said Biti:

You recall that in the last monetary policy statement of October 2018, John Panonetsa Mangudya created two accounts; the Nostro RTGS and Nostro FCA. Now I want to warn Zimbabweans. I am not a prophet. I’m not a marabout but most things that I say come true. Those of us who are keeping money as Nostro FCA, this regime is going to run out of money and as has happened in the past those accounts will be expropriated. Mark my words.

Related:

• WATCH: Tendai Biti Analyses 2019 Monetary Policy Statement