Professor Mthuli Ncube
FOREIGN currency auctions are market driven and represent an expression of choice in the trade of the hard currency, a development that has stabilised the exchange rate in Zimbabwe.
This was said by Finance and Economic Development Minister Professor Mthuli Ncube while responding to questions in the National Assembly last week.
Prof Ncube said the Government could not use any other foreign exchange rate in settlement of its obligations in Zimbabwe since that would undermine the auction system.
Kambuzuma MP Mr Willias Madzimure (MDC Alliance) had said the 83,5 rate to US$1 being paid to tobacco farmers was unfair given that farm implements and other related goods were indexed at the parallel market rate which was higher.
NEW YORK (Reuters) - Newly appointed Zimbabwean Finance Minister Mthuli Ncube would like to employ a “big bang” economic reform program to the battered economy where unemployment is running above 80 percent, but recognises politics will limit the speed for change.
Reserve Bank of Zimbabwe Governor John Mangudya and Zimbabwe s Finance Minister Mthuli Ncube brief reporters during an investment conference in New York, U.S., September 21, 2018. REUTERS/Daniel Bases
HARARE – President Emmerson Mnangagwa has approved the appointment of additional members to the Reserve Bank of Zimbabwe (RBZ)’s Monetary Policy Committee (MPC).
The development was revealed in a statement issued by the minister of Finance and Economic Development, Professor Mthuli Ncube. Reads the statement:
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