RBZ dismisses CZI paper on currency situation

By ZBC Reporter

The Reserve Bank of Zimbabwe (RBZ) has reiterated its commitment to the continued use of the Foreign Currency Auction System to determine and allocate foreign currency for productivity purposes.

In a statement RBZ Governor Dr John Mangudya said the bank is implementing the already agreed to de-dollarisation framework and reiterated government’s commitment to stabilising the Zimbabwe dollar.

The statement is in response to the Confederation of Zimbabwe Industries’ (CZI) published paper titled: “Urgent Engagement Paper on the currency situation in the country” which the RBZ says is detrimental to the economy.

Dr Mangudya assured the public that all foreign exchange accounts are safe, dismissing CZI allegations that they maybe raided by monetary authorities.

The RBZ is encouraging the public to disregard the contents of the CZI paper with the contempt it deserves as it is not factual.