Finance Minister Establishes Monetary Policy Committee
Finance Minister, Professor Mthuli Ncube has established a nine-member Monetary Policy Committee (MPC).
The Committee is expected to restore the scarce public confidence in the monetary policy. Below are the names of individuals in the committee.
- SA-based actuary Marjorie Ngwenya, the first non-British and the first person under age 40 to have served as president of the UK’s Institute and Faculty of Actuaries,
- Kumbirai Katsande, a former president of the Confederation of Zimbabwe Industries and ex-MD at Nestlé Zimbabwe,
- Douglas Munatsi, former CEO of BancABC and a leading farmer,
- Theresa Moyo, a professor of Economics who has taught at UZ and the University of Limpopo.
- Eddie Cross, an Economist and former opposition MP
- Ashok Chakravarti, an economics professor at UZ who also already advises Ncube.
- RBZ governor John Mangudya and
- RBZ Deputy Governor, Jesiman Chipika and
- RBZ Deputy Governor, Kupikile Mlambo.
Following the ban of all foreign currencies on domestic transactions and the reintroduction of the Zimbabwe dollar, the committee has a role of steering monetary policy towards the full reintroduction of a new currency.
Ncube hinted last week that the new currency will be printed as early as this year.
Zimbabwe has been having a hard time with currencies since the abandonment of the original Zimbabwe dollar in 2008 following a record high hyperinflation.
The public has since then been sceptical of the government’s monetary policies and others.
More: Newz Wire
