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'Mangudya's monetary measures hollow'

by Staff reporter
17 Sep 2019 at 08:14hrs | Views
A cocktail of measures unveiled by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya in his midterm monetary policy statement fall short of stimulating economic growth and market confidence as the economy continues in freefall.

Mangudya last Friday announced a raft of measures which include broadening money supply through an injection of notes and coins, introduction of a US dollar-denominated bond market and increasing bank capital requirements. He also reviewed upwardly interest rates.

Meanwhile, the RBZ governor says he is confident gold deliveries will increase in the coming few months after government addressed bottlenecks in the sector.

This was after gold deliveries declined by 40,6 percent to 12,3 tonnes in the half year to June 2019 compared to 17,3 tonnes delivered during the comparative period in 2018

Source - Newsday