Renowned economist and professor Tony Hawkins believes Finance Minister Mthuli Ncube who is a banker in his own right should have advised President Emmerson Mnangagwa that freeze on lending was not going to work.
“Mthuli Ncube is a banker himself, he must’ve known that the freeze on lending wasn’t going to work said Professor Hawkins in this week’s quality conversation with Trevor Ncube.
President Mnangagwa recently made monetary policy announcements freezing bank’s core business, thus lending.
He said the move aimed at stopping speculation against the Zimbabwean dollar and was part of a raft of measures to arrest its rapid devaluation on the black market.
However, economic analysts argued that the move would cause chaos in the market.
When President Mnangagwa came to power through a military coup, he brought technocrats into his cabinet, among them Mthuli Ncube hoping to tap from their expertise.
However, as noted by critics, the technocrats seem to have thrown their expertise to the wind.