Zimbabwe Committed to Ending Zimdollar Volatility
Jan 26, 2022 ·
1m 3s
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Description
The Reserve Bank of Zimbabwe held a crisis meeting with captains of industry on Monday at which they pledged a commitment to work closely in curbing the parallel market exchange...
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The Reserve Bank of Zimbabwe held a crisis meeting with captains of industry on Monday at which they pledged a commitment to work closely in curbing the parallel market exchange rate volatility.
The central bank governor, John Mangudya says both parties acknowledged the positive economic achievements made so far which include year on year inflation reduction to end the year at 60,7% from 348,6% recorded in 2020 with local manufacturing production going to 80% of products on the market were locally produced.
Mnagudya says the Bank should continue fighting inflation through restrictive monetary policy and building foreign exchange reserves as a way of augmenting the defence of the value of the local currency.
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The central bank governor, John Mangudya says both parties acknowledged the positive economic achievements made so far which include year on year inflation reduction to end the year at 60,7% from 348,6% recorded in 2020 with local manufacturing production going to 80% of products on the market were locally produced.
Mnagudya says the Bank should continue fighting inflation through restrictive monetary policy and building foreign exchange reserves as a way of augmenting the defence of the value of the local currency.
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