News
Market
Jobs
About
Contact
List Product
Register
Login
Generate
WhatsApp Message
*Biti Says RBZ Should Be Disbanded And Replaced With A Currency Board* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?fh Former Finance Minister Tendai Biti said that the Government should disband the Reserve Bank of Zimbabwe (RBZ) and replace it with a currency board. Biti, who is the Harare East legislator (CCC), said the RBZ has become a rogue and unnecessary institution that is dabbling in quasi-fiscal activities which cost the public. ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- Speaking at a Zimbabwe Debt Indaba hosted by the Zimbabwe Coalition on Debt and Development (ZIMCODD) in Harare, Biti said: > The elephant in the room is the RBZ and under John Panonetsa Mangudya, it has become a rogue institution. > In my respectful opinion, the country does not actually need a reserve bank. Let us have a currency board. > All the RBZ does is dabble in quasi-fiscal activities which cost you and me. Last year we have had two debt assumptions. > The country’s domestic debt has grown from US$1.5 billion in 2015 to US$3.5 billion in December of 2021. That is not good enough, that is a rogue central bank. > If they are incapable of repenting then we must do something. If they are incapable of Damascus moments then we must do something. > And doing something is drastic. The country does not need a central bank; it needs a currency board. *More: New Zimbabwe* _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