Appearing on Wednesday before parliament’s budget and finance committee, led by Felix Mhona, Zanu-PF’s Chikomba Central MP, Mangudya said: “I pray for Zimbabwe each morning, saying, ‘Oh God, help Zimbabweans understand economics',” he said.
123RF / Natanael Alfredo Nemanita Ginting
The governor pinned poor economic performance to indiscipline in the financial services sector, where he singled out mobile money agents for operating like “Ponzi schemes” which he likened to “Sodom and Gomorrah”.“There’s a demon in this country causing economic instability. It’s like coronavirus but we have to trace it. We have to understand the root cause of our economic challenges. We should not spend a lot of time focusing on symptoms,” he said.
“There’s a narrative which is always wrong in Zimbabwe that if we increase money supply this will cause inflation,” he said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Zimbabweans don't understand economics: Reserve Bank governorReserve Bank of Zimbabwe governor John Mangudya prays for Zimbabweans to 'understand economics', as annual inflation stands at 934%, according to independent economists
Read more »
WATCH | Dingaan Mokebe: If your in-laws don't like you, it’s your partner’s fault'If your in-laws are treating you like nonsense, don't blame them, look at your partner!'
Read more »
WATCH | Dingaan Mokebe: If your in-laws don't like you, it’s your partner’s fault'If your in-laws are treating you like nonsense, don't blame them, look at your partner!'
Read more »
Financial crisis expert Carmen Reinhart named chief economist at World BankReinhart has also serves on the advisory board of the New York Federal Reserve
Read more »
Of drumming, Tony Allen, Charles Mungoshi and my cousin - The Mail & GuardianDrummers have the power to allow Zimbabweans to commune with their ancestors, and none more so than those with elevated talent on the skins.
Read more »
Agility and compassion: That’s what leadership looks like in a Covid-19 worldLeaders in a world forever changed by the Covid-19 coronavirus pandemic will have to demonstrate agility and compassion and have an excellent understanding of South Africa’s socioeconomic realities.
Read more »