Eddie Cross, a renowned economist, has revealed that the new currency previously mentioned by Mthuli Ncube in August this year will be introduced next month (November) in a move set to curb cash shortages in the country.
Eddie Cross is a member of the recently appointed Monetary Policy Committee, a committee that formulates policies affecting money supply and interest rates in the economy which makes his statement relevant and credible.
Mthuli Ncube will probably take the opportunity to announce the new currency in the upcoming 2020 National Budget Statement Presentation which he mentioned in August.
“We already have our own local currency, but this will be the first Zimbabwean dollar note which will trade at parity to bond notes,” said Mthuli in August. this year.
“The events which saw the exchange rate shooting mercilessly are quite unfortunate,” said Eddie Cross
Mr Cross revealed the new currency when he was urging the government to increase money supply so that Ecocash agents trading cash will be out of business and bring stability in the economy.
We hope these new notes will solve the problems affecting the economy and stabilize the exchange rate and the ever-increasing prices Zimbabwe. We also hope that these notes will be convertible outside the country, not bond notes.
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