News
Market
Jobs
About
Contact
List Product
Register
Login
Generate
WhatsApp Message
*Govt To Continue Drip-feeding New Notes Into The Economy* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?il Finance Minister Mthuli Ncube told Senators on Thursday last week that cash will continue to be released into the market in dribs and drabs to avoid sparking inflation. Ncube revealed this while responding to a question by Masvingo Senator Tichinani Mavetera (MDC Alliance) on what measures Treasury had put in place to deal with businesses demanding payment in foreign currency. He said: ---------- *Latest itel S24 now available on Pindula* $124 Cash on Delivery in Harare & Bulawayo. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- > If we put in all the cash that is needed in one moment, it will increase inflation sharply, but also, it may impact the exchange rate and even cause more inflation and so we are using a strategy called a swap, where we are swapping RTGS [real time gross settlement] balances for cash with the bank. Ncube also revealed that authorities intend to inject about $1 billion into the economy over time to make cash readily available. The Finance Bill will be brought before Parliamentarians and will have provisions and amendments of the RBZ Act to give more powers to the Reserve Bank of Zimbabwe (RBZ), said Ncube. *More: NewsDay* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
Copy to clipboard
Give us Feedback
Full Name
WhatsApp Number
Feedback
Submit
Feedback