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New RBZ Governor to hit the ground running

by Staff reporter
28 Mar 2024 at 11:45hrs | Views
Incoming Reserve Bank of Zimbabwe governor John Mushayavanhu is set to hit the ground running after his official appointment from today - 28 March 2024 - for a five year tenure to 27 March 2029 with involvement in next week's monetary policy statement to be centred on the new currency - structured currency - which authorities say will be backed by accumulated gold and United States dollar reserves.

Mushayavanhu's appointment was announced in a government gazette today, replacing the incumbent John Mangudya whose term ends on 30 April.

The delayed money policy statement will be jointly issued by Mangudya and Mushayavanhu after Easter holidays.

After the monetary policy statement, Mangudya will quietly slip away into his new life - (he is going to be the new chief executive of Mutapa Investment Fund, successor to the Sovereign Wealth Fund) - starting with going on leave to allow Mushayavanhu to settle in comfortably and map his new path amid deepening economic problems and macroeconomic instability, characterised by currency volatility and surging inflation.

Source - newshawks