Govt waters down new currency speculation

Nick Mangwana

Government has refuted claims that it is introducing a new currency next month as alleged by Mr Eddie Cross in an interview with the Zimbabwe Broadcasting Corporation earlier this week.

Economist and Reserve Bank of Zimbabwe board advisor Mr Cross speaking in his own capacity urged the Government to increase money supply to curb current cash shortages in the country.

This, he said, would also ensure that EcoCash agents trading cash would be pushed out of business and bring stability in the economy.

However, in a statement last night, Information, Publicity and Broadcasting Services secretary Mr Mangwana said the Government was concerned about Mr Cross’ utterances which are not reflective of the Government or the Reserve Bank of Zimbabwe’s position.

The Government issued the statement after it received a lot of media enquiries regarding the pronouncement by Mr Cross on currency reforms.

‘‘Mr Eddie Cross pronounced that Zimbabwe will be introducing a new currency in November 2019.

“We would like to make it clear that Mr Cross does not speak for the Government, neither does he speak on behalf for the Reserve Bank of Zimbabwe (RBZ),” said Mr Mangwana.

“His views are personal and not indicative of Government policy thrust. The Reserve Bank of Zimbabwe will regularly inject money into the economy in a measured and responsible way. Government will continue to give the nation updates on currency reforms as and when necessary.’’

Mr Cross made the revelation during an interview with the national broadcaster, saying the new currency would be introduced in a move set to curb current cash shortages in the country. – Herald