Zimbabwe: RBZ Explains Reforms to Churches

Reserve Bank of Zimbabwe.

Reserve Bank of Zimbabwe Governor Dr John Mangudya yesterday met church organisations, under the banner of the Zimbabwe Amalgamated Church Council (ZACC) and explained the new local currency regime following the recent scrapping of multi-currencies.

Government removed the multi-currency regime through Statutory Instrument 142, and restricted domestic transactions to the Zimbabwe dollar, in an effort to enhance the affordability of goods and services by the majority.

Dr Mangudya said the scrapping of the multi-currency regime is bearing fruits as positive results are already being witnessed.

He added that the central bank will continue to institute measures that bring sanity in the economy and cushion consumers from unjustified price hikes.

Dr Mangudya implored citizens to have confidence in the local currency and unite to build the nation.

ZACC, which had requested the meeting and to intercede for the national leadership, threw its weight behind Government's decision to scrap the multi-currency system.

Following the meeting, ZACC patron Cde Jimayi Muduvuri applauded Government for the move and declared that the Church was in support.

"The move by our Government is a positive step towards price stabilisation and wooing of investors into the country and we stand in solidarity with it; as ZACC we commend it," said Cde Muduvuri.

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