Eddie Cross: Issuing a new currency mid-year will strengthen Reserve Bank and eliminate queues

Eddie Cross: Issuing a new currency mid-year will strengthen Reserve Bank and eliminate queues 1

By Eddie Cross The Reserve Bank Governor gave a long awaited monetary policy statement. This had been expected in January and was postponed several times because of disagreements in Government as to what should be announced. The Minister of Finance has been following a carefully crafted reform program to restore fiscal and monetary stability within the framework of sound macro-economic conditions. Former BULAWAYO South MDC-T legislator, Eddie Cross When he first came into office I warned him that when he walked into his office, that a bucket full of nasty…

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Zimbabwe dollar back in 12 months: Ncube

Zimbabwe dollar back in 12 months: Ncube 2

By MacDonald Dzirutwe | Reuters | Zimbabwe will introduce a new currency in the next 12 months, the country’s Finance Minister said, as a shortage of U.S. dollars plunges the financial system into disarray, forcing businesses to close and threatening unrest. Professor Mthuli Ncube The southern African nation abandoned its own hyperinflation-wrecked currency in 2009 at the height of an economic recession, adopting the greenback and other currencies including sterling and the South African rand. But without enough hard currency to back up the $10 billion of electronic funds trapped…

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