THE government is working hard to address the liquidity crunch that has seen most banks reducing maximum withdrawals to about $200 per day while others have stopped loading money into automated teller machines. As a result, some parents and guardians failed to access money yesterday for back-to-school shopping as schools open today.
However, Vice President Emmerson Mnangagwa told workers who gathered at Rufaro Stadium for Workers’ Day commemorations yesterday that the government was concerned about the inconvenience that was caused by the liquidity crunch.
“The Ministry of Finance together with the Reserve Bank of Zimbabwe are currently seized with the matter and we’re confident of a speedy resolution,” he said.
RBZ Governor John Mangudya later said that they were treating the situation as a matter of urgency. “We’re indeed working on something as the Vice President said, to flush out the queues,” said Mangudya.
“The shortage isn’t in all banks. The shortages are confined to some banks. So, addressing the problem is an immediate issue. It needs immediate policy measures, so we’re working on that to ensure we normalise the situation. We don’t want people to continue going through what they’re going through.”
Mangudya reiterated that it was important for Zimbabweans to use plastic money in their transactions to avoid inconveniences.