President Emmerson Mnangagwa has appointed top-ranked banker, John Mushayavanhu, as the new governor of the central bank, almost a month before the end of John Mangudya's term of office.
Mushayavanhu, with over 30 years of experience in the banking sector, declined to comment on his appointment and Mangudya was unreachable as he was not responding to calls on his mobile phone. Writing on X, formerly Twitter, Deputy Finance Minister Kuda Mnangagwa said a surge in the exchange rate was linked to speculation on the RBZ's Monetary Policy Statement, expected to be announced within the next few days.
"He should not follow quasi-fiscal policies being touted by the ruling party because that spells disaster for the country. He is a professional banker who is expected to use his wide experience in stabilizing the inflation rate and crumbling local dollar. Otherwise, he may end up looking like a driver of a vehicle without fuel."There was a problem processing your submission. Please try again later.
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