Mthuli Ncube threatens gvt contractors ‘for causing prices instability’

Zimbabwean Minister of Finance and Economic Development, Mthuli Ncube has accused government contractors of fuelling exchange rate and price instability.

He says they are doing this by offloading their RTGS payments on the black market to buy United States dollars.

Ncube threatened to blacklist company directors and freeze their bank accounts if found wanting.

Apparently, the Zimbabwean dollar is performing badly against major convertible currencies particularly the green buck.

Inflation is on the rise despite government’s attempt to downplay the figures.

According to renowned economist Steve Hanke Zimbabwe’s inflation is among the top on the world ranking.

Zwnews