RBZ boss John Mangudya to officiate at event whose exchange rate is US$1 equals ZW$700

The Governor of the Reserve Bank of Zimbabwe is a key speaker at an event whose fee is pegged at US$50 or ZW$35,000.

According to critics Mangudya should not officiate at such an event whose exchange rate is that high when he is complaining about the same thing.

Renowned investigative journalist Hopewell Chin’ono says:

“The Governor of Zimbabwe’s central bank is a main speaker at an event whose fee is US$50 or ZW$35,000.

“It means the exchange rate where the Governor is speaking is ZW$700 to the USD. Then after the event he starts talking about an auction rate. They have failed!”

The Zimbabwean dollar is on the free fall but the government is not admitting.

The country’s monetary authorities is on record saying those who are causing the rate to rise are economic sabotaures.

Zwnews