Mangudya to present 2018 Monetary Policy Statement

Mangudya to present 2018 Monetary Policy Statement
Published: 11 January 2018
The Reserve Bank of Zimbabwe Governor Dr John Mangudya is in the coming few weeks expected to present the eagerly anticipated 2018 Monetary Policy Statement amid a persistent cash crisis coupled with an untenable multi-tier exchange rate system and biting foreign currency shortages among other challenges.

Experts opine the statement must usher in long term economic reforms and strategies that can effectively solve the current challenges.

Economic experts interviewed by the ZBC News have pointed out that the central bank needs to come up with measures that bring and build confidence in the economy among the investors and the public.

These should also be aided by broad and far reaching macro-economic reforms and strategies in order to effectively solve the current economic challenges.

Zimbabwe National Chamber of Commerce chief executive officer Mr Christopher Mugaga urged the central bank to resolve the imbalances in the money supply of the economy in which banks are holding disproportionately high RTGS balances.

The country's economy has been grappling with an economic crisis reflected by unending cash shortages since 2016.

Experts advise policy makers to devise a long-term macro-economic approach in dealing with these problems.

Recommendations are also centred on the need for the central bank governor to expand on the US$1.5 billion Afreximbank facility in order to reduce the country's investment risk and increase the productive capacity.
- zbc
Tags: Mangudya,


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