A member of the newly appointed monetary policy committee
Eddie Cross has revealed that the new currency will be introduced next month
(November) in a move set to curb cash shortages in the country.
Mr Cross, a renowned economist described last week’s events
which saw the exchange rate shooting through the roof as unfortunate.
He commended President Mnangagwa for taking a bold decision
to freeze accounts of companies suspected of fueling the instability of
exchange rates, saying what is needed now is to act on such economic saboteurs.
He added that the new approach where-by command agriculture
will be facilitated through banks is professional and will produce good results
although there is need to expedite the process in view of the anticipated early
rainfall.
Meanwhile, Mr Cross commended President Mnangagwa’s State
of the Nation Address delivered on Tuesday, for tackling real issues affecting
the ordinary person as well as economic growth. ZBC
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