President Robert Mugabe has reaffirmed that the country will continue with the multi-currency system and has bemoaned the lack of discipline which has contributed to the current liquidity challenges being experienced on the domestic market.
The adoption of the multi-currency regime was meant to mitigate the risk of over reliance on the US dollar and has been complemented with the introduction of bond notes.
In his 93rd birthday interview with the ZBC News and Current Affairs, President Mugabe reaffirmed that the current multi-currency system is the way to go adding that there is need to broaden the basket of currencies to ensure pressure on the US dollar is lessened.
Commenting on the cash challenges, President Mugabe said it is unfortunate that many Zimbabweans are holding on to cash and not depositing cash in the banks thereby creating unnecessary pressure on the financial institutions.
The Reserve Bank of Zimbabwe governor Dr John Mangudya has in the past bemoaned lack of discipline on the local market which has resulted in the liquidity challenges and externalisation of funds.
In the recent monetary policy statement, the apex bank announced measures to promote efficient use of the bond notes, domestication of the local card transactions and promotion of plastic money.