Business / Economy
Zanu PF MP praises RBZ Governor Mangudya for introducing new currency
29 Nov 2016 at 02:40hrs | Views
A Zanu PF legislator Terence Mukupe has praised Reserve Bank of Zimbabwe Governor John Mangudya for introducing the new currency saying he has shamed the prophets of doom who do not understand economics.
"Congratulations to Dr John Mangudya, you have made history as the first and only country to ever reintroduce either a currency or pseudo currency after full dollarisation," Mukupe said.
"You have shamed the prophets of doom who do not fully understand economic theory in an African setting where cultural and emotional economics carry the day."
The new bond notes comprising the two dollar note and five dollar note hit the streets on Monday amid indications there was a start of black market trading of the currency against the United State s dollar signifying that the black market has already devalued it. Also some supermarkets were reportedly rejecting it.
"Congratulations to Dr John Mangudya, you have made history as the first and only country to ever reintroduce either a currency or pseudo currency after full dollarisation," Mukupe said.
The new bond notes comprising the two dollar note and five dollar note hit the streets on Monday amid indications there was a start of black market trading of the currency against the United State s dollar signifying that the black market has already devalued it. Also some supermarkets were reportedly rejecting it.
Source - Byo24News
