Price madness unjustified, says VP Chiwenga; market responds policies not anger, gvt told

While acknowledging the adverse impact of the Covid-19 pandemic and the Russia-Ukraine conflict, Vice President Constantino Chiwenga said the situation in Zimbabwe was being exacerbated by speculative market indiscipline and unethical business practices.

He said the resurgent price madness being experienced in the market is unjustified given the prevailing stable economic fundamentals & the supportive fiscal & monetary policy interventions meant to cushion the economy from external shocks.

Apparently, Chiwenga is known to have threatened business for allegedly sabotaging the country’s economy.

However, economic analyst, Kudzai Mutisi has warned the Government against issuing threats to business, but rather engage it to find lasting solution.

“Zim govt officials must know that markets react to policies, not anger or threats.

“As long the policies that fuel inflation are in place, nothing changes.

“The technocrats in govt have failed.
Mthuli Ncube has failed. Mangudya is exhausted, rest him,” he says.

Zwnews