RBZ: THERE’S TOO MUCH MONEY INSIDE ZIMBABWE: Mangudya Says There’s No Cash Crisis

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RBZ boss…John Mangudya

The Reserve Bank of Zimbabwe has announced saying there is no cash crisis in Zimbabwe.

Speaking at a Meikles Hotel covered by ZimEye.com during the day Friday, Mangudya said, “we have too much money in this country in the form of RTGs, that is what measures liquidity.

“Do not measure liquidity by the money you withdraw from the banks, that is cash withdrawals. Liquidity is money in the bank that is idle and can be used at any time, that money is there and that is money we want to use to produce goods.

“Let us use the RTGs in the banks to produce goods thereby earning more exports which in turn bring more the much needed foreign currency, which we already use, but we need more.The backbone of any economy in the world is money and the money comes from production.

“This is what we use when we measure our GDP (Gross Domestic Product), we ask ourselves what have we produced as a country.”

This is not the first time Mangudya has said this and in November Mangudya told ZimEye there is no cash crisis in Zimbabwe, and the only there is being caused by social media speculation.

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  • kim

    to hell with you mangudya.can our gramparents in the rurals use RTGs.stupid fool

  • eish

    yes magudya measuring gdp is one thing but availability of hard cash is another story, there is a crisis of cash in this country and that is indisputable

  • TODII

    Deranged Idiot!!! Which degree does this fool have?sometimes its better to keep quite!!!!

  • TODII

    Sorry , not you kim, i mean Mangudya!!!!

  • Phew

    Why do ordinary people still cannot access their bank accounts and this idiot was calling for ordinary people to use Bond notes this guy needs to be investigated byZACC for misleading the public etither some oppossition parties/members of civil society should call for his investigation