The three things Zimbabwe has to do before bringing back the Zimbabwe dollar


0

The Zimbabwe dollar is not likely to return anytime soon according to the Reserve Bank of Zimbabwe governor John Mangudya.

Mangudya told Bloomberg Television that three things are required before the local currency is brought back

The first thing is that Zimbabwe needs to improve its confidence, both business and consumer confidence.

The second is that Zimbabwe needs to ensure that it reduces the fiscal imbalances that are putting pressure on the financial services sector on the rate of exchange.

Thirdly Zimbabwe needs to have access to foreign finance.

“When those things are done, then we can have our local currency,” he said.

Asked about the timeframe, Mangudya said he was looking at three to five years.

(395 VIEWS)

Don't be shellfish... Please SHAREShare on Google+
Google+
Tweet about this on Twitter
Twitter
Share on Facebook
Facebook
Share on LinkedIn
Linkedin
Email this to someone
email
Print this page
Print

Like it? Share with your friends!

0
The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

0 Comments

Your email address will not be published. Required fields are marked *