President Emmerson Mnangagwa reportedly summoned Finance and Economic Development Minister, Mthuli Ncube and the Reserve Bank of Zimbabwe governor, John Mangudya, to a crisis meeting on Thursday over the deteriorating economic situation.
Business Times reported multiple government sources as saying the meeting was held at the State House in Harare.
Mnangagwa reportedly demanded that Ncube and Mangudya should come up with concrete policy measures to avert economic implosion. Said a source:
On Thursday last week, Ncube and Mangudya were called to the State House by HE (Emmerson Mnangagwa) to come up with solid and immediate solutions which could arrest runaway inflation, the volatile exchange rate and quick recovery to the ailing economy to avert the ruling party (ZANU-PF)’s demise.
The party has promised the electorate some cakes but the situation on the ground has turned south causing the party bigwigs to panic.
The government hierarchy is also panicking. They are not sure if the electorate would listen to them ahead of next year’s elections.
However, presidential spokesperson George Charamba told Business Times that it was a routine meeting. He said:
Every week after Cabinet HE meets the finance team. It has been happening since the inauguration of the Second Republic. Always after Cabinet, there is that team which reviews the economy.
Those who are saying that it was an emergency meeting between HE and the two economic principals because of the deteriorating state of the economy are not saying the truth and they want to use you to advance their cause.
Another source said it was increasingly becoming difficult for ZANU PF MPs to explain the worsening economic situation to the electorate in their respective constituencies. Said the official:
ZANU-PF’s structures met in Harare to strategise on a quick economic recovery programme as they fear problems in the 2023 general elections.
Stakeholders at the meeting resolved that the situation has to be rectified before it is too late.
Many party officials are baying for Ncube’s blood following his zvakangoreka banter (all is in order) saying he should be fired as he is misleading the President (Emmerson Mnangagwa) into thinking that all is well at a time people are suffering.
The majority of Zimbabweans are living in abject poverty with prices of fuel and basic food items rising continuously while incomes have remained stagnant.
On Tuesday this week, Mangudya met with retailers and manufacturers to discuss ways of dealing with rising prices.
More: Business Times