RBZ Speaks On Prospects Of Returning To The Multicurrency System

The deputy governor of the Reserve of Zimbabwe (RBZ) Jesimen Chipika has underplayed prospects of the return of the multicurrency system which was outlawed on 24 June this year.

Chipika said that the Zimbabwe dollar which was reintroduced through Statutory Instrument 142 of 2019 was stabilising the economy and was part of the structural adjustment measures the country is embracing to address the financial crisis.

Speaking to captains of industry and commerce during her presentation at the 2019 bankers and banking survey launch in Harare this Thursday, Chipika said:

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The Zimbabwe dollar may not be perfect but we are getting there.

We have seen the reduced trading of foreign currency on the black market and we are seeing stronger demand for the local currency.

Chipika speaks when calls for the re-dollarisation of the economy are also growing with some saying that it is the only way to address inflation and to assure growth.

The government, on the other hand, is reportedly in the process of printing the new currency which can be expected on the market anytime this year.

More: The Independent


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4 comments on “RBZ Speaks On Prospects Of Returning To The Multicurrency System

  1. Who does the RB speaker mean when she speaks of ” WE are getting there”? The top echelons of government, bank and ruling party may certainly be getting by and better than just getting by. The ordinary citizen is srtuggling,

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RBZ Speaks On Prospects Of Returning To The Multicurrency System