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With exports of US$250m and US$100m in remittances per month, against imports of US$330m, Zim shouldn’t be facing forex shortages, RBZ chief Mangudya says this morning. He says the problem has been the inefficiency of the forex market.
RBZ govenor John Mangudya says US$9m was traded on the interbank market last week.
“We are not controlling the exchange rate,” he claims.
“We are not controlling the exchange rate,” he claims.
CZI president Henry Ruzvidzo says every industry supports the principle of having our own currency, but he questions the timing. “We have lost market share. We’re sitting with stocks that our customers do not afford”
Fin. Min @MthuliNcube on whether his measures are the same those taken in 2008: “It’s not. Unlike 2008, we are not running an overdraft with RBZ, we do not have a deficit.” He says unlike in 2008, Govt’s fiscal position is no longer a risk
Economist @brains_muchemwa says @MthuliNcube has a unique opportunity to positively influence policy, unlike his predecessors, and must do the right thing.
“In the history of this country, no Finance Minister has ever been believed by the President”
“In the history of this country, no Finance Minister has ever been believed by the President”
Was the timing of SI142 right? RBZ governor says it was right, as the economy was fast re-dollarising, and this would hurt competitiveness. “The economy was rushing towards re-dollarisation. When you see a push, you have to push back.”
Businessman Luxon Zembe criticises @MthuliNcube for not consulting enough. “We are the stakeholders,” he says.
He adds that the market is only reacting to uncertainty.
“You’re creating uncertainty. When you introduce something overnight, you destroy what you’re trying to build”
He adds that the market is only reacting to uncertainty.
“You’re creating uncertainty. When you introduce something overnight, you destroy what you’re trying to build”
.@MthuliNcube says “I’m happy to declare victory” in his fight for austerity in Govt by battling high expenditure.
He says his message of austerity had been targeted more internally, as “Govt was the problem” by overspending.
He says his message of austerity had been targeted more internally, as “Govt was the problem” by overspending.
.@MthuliNcube says he is likely to adjust the tax brackets to respond to the impact of rising prices on wages.
“We’re working on some simulations. We’re going to raise that bar in addition to the cushioning allowance” for civil servants.
“We’re working on some simulations. We’re going to raise that bar in addition to the cushioning allowance” for civil servants.
