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*Cash shortages caused by 1965 program started by colonial regime says Reserve Bank* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?fu Reserve Bank of Zimbabwe (RBZ) deputy governor Kupikile Mlambo has claimed that the current foreign currency challenges started in 1965 when the Rhodesian government of Ian Smith started an import substitution program. Said Mlambo while addressing a Confederation of Zimbabwe Retailers Indaba, ---------- Pindula is best experienced with the Android App. *Download APK here:* https://zero.pindula.co.zw/media/apps/apks/pindula23.apk _On Econet, Pindula does NOT use your data_ ---------- > The shortage of cash is a shortage of foreign exchange it has a historical context that begins in the 1960s. Then authorities decided to industrialize by replacing imports, while it worked it did not generate sufficient foreign currency to bring in essential raw materials Mlambo also said that the RBZ was not going to adopt the South African Rand as the anchor currency. > Our problems are of a structural nature and whatever currency we adopt is foreign currency, the point CZI miss is that we don’t have enough foreign currency and that is our problem since the 1960s we need to export more. Secondly we are uncompetitive on the regional markets as our cost structures are high. More: Business Connect itel A50 now available on Pindula at $84 64GB storage, 2GB RAM. _ideal for light usage_ _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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