RBZ suspends senior economist over leaked document

Leak-accused: Senior Bank economist, Philton Makena
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HARARE – The Reserve Bank of Zimbabwe (RBZ) has suspended its senior economist, Mr Philton Makena, pending disciplinary action for leaking a “de-dollarisation roadmap” document before its approval by authorities.

The detailed document, which had gone viral on social media platforms, outlines key macro-economic policy measures to support the five year de-dollarisation strategy. In a statement yesterday afternoon, RBZ Governor Dr John Mangudya, advised the public to ignore the leaked document and apologised for the anxiety and inconvenience it may have caused on the market.

“The Reserve Bank of Zimbabwe wishes to advise the public that the document titled ‘De-dollarisation Roadmap’, which has been circulating on social media was leaked by a senior Bank economist, Philton Makena, who had access to a document on the macro-economic policy measures to support the five-year de-dollarisation strategy, which was being worked on by a team of economists in the bank.

“The draft document is not official as it has not even been discussed at both Bank and Government levels. The document should, therefore, be disregarded,” said Dr Mangudya.

The Apex Bank chief said the document in question was being worked on by the team of economists on a computer allocated to chief economist in the Bank, Mr Paul Gilmour Mukoki.

“The Bank has since established that Mr Mukoki was not responsible for the leakage of the document,” he said.

“Mr Makena’s conduct amounted to breach of the oath of secrecy by which all bank employees are bound. Accordingly, the Bank has suspended him with immediate effect and has commenced disciplinary proceedings against him.”

In the leaked de-dollarisation framework, the use of the US-dollar for domestic transactions was set to remain permissible in the next four years while a fixed and dual exchange system was to be adopted.

Download the DE-DOLLARISATION ROADMAP Final Document Here in PDF