The Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya says containing money supply is his top priority in his second and final term following the renewal if his contract by President Emmerson Mnangagwa last week.
Speaking to the ZBC News, Dr Mangudya acknowledged the various challenges affecting economic growth but expressed confidence that his second term will address most of these challenges, especially high inflationary pressures.
“We are in a very tight economic situation but let us put into perspective where this economy is coming from. We have stood firmly on the ground to ensure that the economy gets back to a growth trajectory,” said Dr Mangudya.
One of the major scores of RBZ is the resolution of toxic assets in the banking sector which threatened financial sector stability.
Dr Mangudya also said reports of a tiff between him and Minister of Finance and Economic Development, Professor Mthuli Ncube are all manufactured, saying the two are longtime buddies.
“What people do not know is that Professor Ncube and I are longtime buddies and all the talk of tension with him are mischievous lies. We actually were in the same class at the University of Zimbabwe (UZ),” Dr Mangudya added.
Dr Mangudya implored Zimbabweans to be patient as the government institutes economic reforms including arresting the scourge of high money supply growth, which is the biggest source of inflation.