Zimbabwe: RBZ Governor Off on Encouraging Note

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A FEW weeks ago I welcomed the announcement of the appointment of Dr John Mangudya as the incoming Governor of Reserve Bank of Zimbabwe (RBZ), foreshadowing that his extensive banking, economics and administrative experience, and his ethic, would be an great foundation to progressive recovery of Zimbabwe's distressed economy (subject to government's willingness to heed his advice).

On May 1 Mangudya came into office, and within a week released his first statement on the economy and the remedies required for the economy to be revitilised. The statement reaffirms he recognises the economic realities, and of the restorative measures and actions so very greatly needed.

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