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Mangudya dismisses Biti’s claims on local currency

The governor of The Reserve Bank of Zimbabwe, John Mangudya dismissed the claims being circulated on social media regarding the introduction of the new currency.

He said that the country will continue to use the multi-currency system. Former Finance Minister Tendai Biti yesterday claimed that government was planning to introduce a new local currency this week.

Posting on twitter, Biti said “The regime will this week introduce a new Zimbabwe currency not backed by any reserves and without any structural reforms which are prerequisite of currency reform. That move is pure undiluted insanity. An unbanked currency is just the bond note by name,” he said.

Minister of Finance Mthuli Ncube said that Biti is not in government but he always enjoys interacting with him.

“I think Biti is free to comment and also a member of the opposition that is always welcome.  He keeps on our toes. We have a policy. We will do it when we are ready. We have a game plan, roadmap. We do the needful when the conditions are right,” said Ncube.




About Sharon Dewhe

Student Journalist At ZimOnline Media Photographer

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