Business / Economy
Zimbabwe to discuss Rand Monetary Union
27 Jul 2011 at 11:53hrs | Views
Zimbabwe's Finance Minister Tendai Biti says his ministry will present a document to the cabinet for discussion regarding the issue of whether or not the country should join the Rand monetary union.
Biti was responding to complaints over the issue of cross rate between the United States Dollar and the South African Rand, which has been blamed for price distortions, in his presentation of the Mid-term Policy Review Statement in Harare.
He said the issue of cross rate has become a problem that requires government to take stiffer measures to control.
Biti reiterated government's decision to continue using the multi-currency system as indicated in the recent Mid-term Policy Document.
Biti was responding to complaints over the issue of cross rate between the United States Dollar and the South African Rand, which has been blamed for price distortions, in his presentation of the Mid-term Policy Review Statement in Harare.
Biti reiterated government's decision to continue using the multi-currency system as indicated in the recent Mid-term Policy Document.
Source - ZBC
