WATCH LIVE: Mthuli Ncube plunges Zimbabwe economy into confusion

WATCH LIVE as Gambakwe Media speaks to Bulawayo Senator, Khaliphani Phugeni about new measures that were announced by Finance and Economic Development Minister, Professor Mthuli Ncube today at a Press conference in Harare.

Additional Measures_Exchange Rate Stabilisation & Control of Inflation

Some of the measure announced by Ncube include:

  1. The USD will be used as a currency for the next 5 years.
  2. Interbank market will now be determined by banks.
  3. Interest rate now increased to 200%
  4. Shops can now price their goods at the interbank rate.
  5. Levy on diesel has been removed.
  6. Wheat and maize imports will be improved.
  7. New earnings incentives for civil servants.

Unanswered questions?

  1. Has the forex auction been disbanded?
  2. Is the monetary policy committee now functional?
  3. Lack of cash in the ATMs
  4. Roadmap for increasing international acceptance of the Zimbabwe dollar.
  5. Policy inconsistencies from government side.

Below is the full statement

Review of Remuneration Framework & Service Wide Conditions of Service