Finance Minister Establishes Monetary Policy Committee

Finance Minister, Professor Mthuli Ncube has established a nine-member Monetary Policy Committee (MPC).

The Committee is expected to restore the scarce public confidence in the monetary policy. Below are the names of individuals in the committee.

  1. SA-based actuary Marjorie Ngwenya, the first non-British and the first person under age 40 to have served as president of the UK’s Institute and Faculty of Actuaries,
  2. Kumbirai Katsande, a former president of the Confederation of Zimbabwe Industries and ex-MD at Nestlé Zimbabwe,
  3. Douglas Munatsi, former CEO of BancABC and a leading farmer,
  4. Theresa Moyo, a professor of Economics who has taught at UZ and the University of Limpopo.
  5. Eddie Cross, an Economist and former opposition MP
  6. Ashok Chakravarti, an economics professor at UZ who also already advises Ncube.
  7. RBZ governor John Mangudya and
  8. RBZ Deputy Governor, Jesiman Chipika and
  9. RBZ Deputy Governor, Kupikile Mlambo.

Following the ban of all foreign currencies on domestic transactions and the reintroduction of the Zimbabwe dollar, the committee has a role of steering monetary policy towards the full reintroduction of a new currency.

Ncube hinted last week that the new currency will be printed as early as this year.

Zimbabwe has been having a hard time with currencies since the abandonment of the original Zimbabwe dollar in 2008 following a record high hyperinflation.

The public has since then been sceptical of the government’s monetary policies and others.

More: Newz Wire


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5 comments on “Finance Minister Establishes Monetary Policy Committee

  1. Where is , an adviser from the streets, Mbare, Sakubva, Renkini, Chitungwiza, or representative of money changers. Definitely these people are bound to know something those people appointed do not know and it can contribute to success of the project.

  2. ED seems to have handpicked M Ncube merely bcz of the title professor. He knows nothing.Is he ever going to match civil servants salaries with the hyper inflation he triggered through HIS ungorvened liberal political pricing-laisez fare ! Cross is called in to attempt to cool down opposition tempers.A failed mere banker now experimenting with national economics jointly with the failed 1:1 (MANGUDYA)

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