Mangudya refuses to resign, blames government fiscal indiscipline for cash crisis
Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has reportedly backtracked on his pledge that he would resign if bond notes did not work. According to the leadership of the Zimbabwe Congress of Trade Unions (ZCTU), they confronted Mangudya and reminded him of his promise. However, to their surprise, the governor insisted that he was not going anywhere as he was not responsible for the cash shortages. Instead, Mangudya blamed fiscal indiscipline, within the government.
ZCTU Secretary General, Japhet Moyo said:
Under pressure from our members, we decided to engage him and remind him of his words. Our members did that on the back of a complete dry-out of money at banks. Now money is being found on the parallel market and all these problems we had warned him against and are with us now. So we want him to stand by his words and resign.
The RBZ has failed and he as a person should throw in the towel as he promised. To our surprise, when we met him this morning (Monday) he chose to push the buck to someone else and blames fiscal indiscipline within the government.
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Mangudya did not comment on the issue.
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