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 InflationSome of the measure announced by Ncube include:
- The USD will be used as a currency for the next 5 years.
- Interbank market will now be determined by banks.
- Interest rate now increased to 200%
- Shops can now price their goods at the interbank rate.
- Levy on diesel has been removed.
- Wheat and maize imports will be improved.
- New earnings incentives for civil servants.
Unanswered questions?
- Has the forex auction been disbanded?
- Is the monetary policy committee now functional?
- Lack of cash in the ATMs
- Roadmap for increasing international acceptance of the Zimbabwe dollar.
- Policy inconsistencies from government side.
Below is the full statement