Mangudya To Appear Before Parliament’s Public Accounts Committee

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya is set to appear before Parliament’s Public Accounts committee.

Mangudya is expected to explain several monetary issues as Parliament resumes sitting this week after taking a two-week break. He has been invited to explain the operations of Zimbabwe Asset Management Company, special purpose vehicle created by Government to house non-performing loans from banks. Zamco was formed in 2015 with a 10-year mandate to rid the banking sector of all non-performing loans after which the special purpose vehicle is anticipated to wind down its operations.

According to a schedule from Parliament, other issues that Mangudya has been asked to explain related to RBZ debts and Government overdraft facility with the central bank. The meeting will also cover bond notes and coins.