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BREAKING: Government dismisses new currency introduction reports

by Mandla Ndlovu
03 Oct 2019 at 17:07hrs | Views
Eddie Cross, a member of the central bank's Monetary Policy Committee had told ZBC that Zimbabwe has been chronically short of paper cash, forcing most transactions onto electronic platforms such as mobile-money system Ecocash.

"We have insufficient cash in the system to meet people's needs for transactions," Cross said. "The new notes should do away with the queues at the banks and people then should have adequate money for daily use."

Said Mangwana, "Mr E Cross does not speak for government neither does he speaks for RBZ. The Reserve Bank will regularly inject money into the economy in a responsible and measured way. Government will continue to give the nation updates on currency reforms as and when necessary."



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Source - Byo24News

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