RBZ continues to strengthen financial sector reforms

By ZBC Reporter
THE Reserve Bank of Zimbabwe(RBZ) continues to strengthen the financial sector through coordinated reforms especially around mobile money platforms.
Following the identification of the sources of the country’s exchange rate instability early this year, RBZ adopted and executed a comprehensive strategy to eliminate several monetary economic headwinds that were afflicting the economy and has been largely successful thus far.
The latest Mid-term Monetary Policy review has been given a nod by economic minds as it is seeking to consolidate the current position concerning exchange rate stability which in itself is a key economic driver.
“We have seen mobile money operators abusing their platforms as such the banning of agent lines by the central bank is a welcome development in consolidating the exchange rate gains the country is enjoying and therefore it should be noted the mid-term monetary policy review is seeking to strengthen this position,” said Titus Mukove, an Economist.
“The abolishment of agent lines has demonstrated that RBZ is the regulator of the country’s financial sector and this brings confidence amongst economic players,” Takudzwa Chisango an Economist said.
The central bank through its recently announced Mid Term monetary policy review is vigorously pursuing long term exchange rate stability, sustainable inflation levels and in the process boosting market confidence.