RBZ Governor calls for prayer

THE Reserve Bank of Zimbabwe Governor, Dr John Mangudya has called upon the church to pray for God's direction as a crisis has taken a toll on the local economy.

He was speaking during the Roman Catholic Church Archdioceses of Harare Social Communication business breakfast meeting last Tuesday.

While addressing the gathering, Dr Mangudya said churches need to spread the correct message on bond notes before their introduction in October.

He explained that bond notes are an export bonus scheme meant to assist exporters to be competitive and produce more goods for export. He said the central bank has no intention to bring back the Zimbabwean dollar now but their aim is to bring sanity into the economy.

"As the central bank we have seen it fit to engage all stakeholders including the church to clarify the issue of bond notes.

"I have been talking of this export incentive scheme for quite a long time but what continues to worry me is that the general populace is speculating that we want to introduce the local currency.

"People should understand that we are talking about export incentives, not the re-introduction of the Zimbabwean dollar, the multi currency system will remain in place," he said.

During an exclusive interview with The Sunday Mail Religion on the sidelines of the event, Dr Mangudya spoke of the need to work together as a nation.

"It's not easy but we should push together, knowing that God in Jeremiah 29 v 11 promised that He will give us the future with hope.It's a blessing that today I have addressed the church, it is critical for them to understand that the export incentive that we intend to introduce will be financed by the bond notes. And we will give the export bonus scheme to exporters.

"If they have understood, I know they will spread the message to their friends, family and neighbours," he said. Recently, Dr Mangudya met Prophetic Healing and Deliverance Ministries leader Prophet Walter Magaya and also clarified the issue of bond notes.

"I am keen to explain this issue to everyone so that we walk together, people are free to visit our offices. I have met so many people including lawyers, bishops, and prophets; I am pleased to say that the responses are overwhelming."

"Every Zimbabwean, the church included, should know that as a nation where we are today we need to look on things with a different eye, we should understand that we need to look after the goose that lay the egg and that goose is the exporter.

"If we fail to do that it means the sustainability of the economic system is threatened," added Dr Mangudya.

Speaking at the same event, Roman Catholic Vicar-General, Father Kennedy Muguti said political will is required to ensure that the new policy measures that aim to revive the economy succed. Father Muguti noted that depositors and captains of industry are skeptical about the new measures.

"While the Government is making frantic efforts, including you (RBZ Governor) to allay the fears by the depositors and investors, the situation on the ground shows that the people have lost trust and confidence in the economic policies," Father Muguti said. Father Muguti said the central bank was supposed to have consulted all stakeholders before pronouncing the introduction of bond notes. "However, what the Governor is doing now (engaging stakeholders) show that progress is being made," he said.