The Reserve Bank of Zimbabwe (RBZ) Governor, Dr. John Mushayavanhu, has ignited a social media firestorm following his comments regarding the newly introduced "Structured Currency," Zimbabwe Gold (ZiG).
Dr. Mushayavanhu's public admission of seeking advice from a World Bank consultant due to limited internal knowledge about structured currencies has caused a stir. This revelation comes just two weeks after the government abolished Zimbabwe Bond notes (ZWL) and introduced ZiG.
During a breakfast meeting in Bulawayo, Dr. Mushayavanhu acknowledged the RBZ's lack of expertise and confirmed seeking assistance from a World Bank consultant to understand structured currencies better. He emphasized that much of the RBZ's current knowledge on ZiG originated from this external source.
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| Dr. John Mushayavanhu |
This admission has sparked outrage on social media, with Zimbabweans criticizing both the Governor and the Finance Ministry for implementing a currency they allegedly didn't fully understand. Many online users accuse Dr. Mushayavanhu of deflecting blame and using the World Bank as a scapegoat for the perceived shortcomings of ZiG.
The Governor's comments raise concerns about the planning and potential effectiveness of the new currency. The situation remains fluid, and it's yet to be seen if the RBZ will address these concerns and how the public's apprehension will impact the adoption of ZiG.
The Governor's comments raise concerns about the planning and potential effectiveness of the new currency. The situation remains fluid, and it's yet to be seen if the RBZ will address these concerns and how the public's apprehension will impact the adoption of ZiG.
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