Zimbabweans React: To RBZ Announcement Of US $500 MIllion Injection Into Market

On Saturday afternoon, the Reserve Bank of Zimbabwe announced that it is going to inject US $500 Million into the Interbank Forex Market on Monday, 20 May 2019.

The government initially didn’t say where the money had come from. However, following several questions on social media, Finance Minister, Mthuli Ncube intervened and tweeted that the money was sourced from international banks.

Here are some reactions from Zimbabweans on social media:

“Drawing down” from where? Countrymen, we must empty our FCAs. We’ve danced this dance before.Fadzayi Mahere

 

If you have the money don’t bother telling us, just put it into the market and the market will respond accordingly. Your major problem is that many don’t trust you and speaking about this makes many even more sceptical. – ZCTU Zimbabwe

 

The US$500 million new facility raised from international banks will increase the supply of foreign currency for imports, for industry and other sectors. – Mthuli Ncube

 

Mapedza kutenga mari pablack market ka – Bustop TV

 

Firstly drawing down from where? Then secondly, this idea of always trying to assist the market is it sustainable. Why cant the market be left to act in a free manner such that we have a true reflection of what is happening. – Dr Redz

 

If this is fake news (ie, a lie) it will cause more damage in the long run. The RBZ should be trying to build trust by being honest with business and the population. If they are trying to stabilise the forex market through a lie that will be regrettable – Samie

 

 

Reserve Bank of ZimbabweMthuli NcubeFadzayi Mahere

The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About Reserve Bank of Zimbabwe

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

Fadzayi Mahere is a Zimbabwean lawyer and MDC politician. Prior to joining MDC, she was an independent politician and political activist known for being vocal in her opposition to Zanu-PF governance. She was been one of the most prominent activist of the #ThisFlag Movement in... Read More About Fadzayi Mahere

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One Comment on “Zimbabweans React: To RBZ Announcement Of US $500 MIllion Injection Into Market

  1. Wake up who do u think has been making the rate run ….they r putting back what they have bought because they need some stability b4 stones are thrown .they put back half what has been bought to give the same bonds

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