ZCTU Calls for Mangudya’s Head

Zimbabwe Congress for Trade Union has urged the government to replace the current Reserve Bank of Zimbabwe Governor, Dr John Mangudya with a competitive non partisan individual who can bring sanity to the monetary system.

Addressing the media in the capital on Tuesday, ZCTU President, Peter Mutasa said the spiraling black market can only be blamed on the RBZ as they are the sole monetary authority in the country, adding that Mangudya should explain the existence of new notes on the streets at a time when banks are issuing coins denominations to people.

“The spiraling black market can only be blamed on the Reserve Bank of Zimbabwe as the sole monetary authority and government ministries.

“How do we explain the existence of millions of mint crisp bond notes on the streets when the banks are only issuing the smallest coin denominations?

“Mangudya must explain to the nation how these huge sums of money are ending up in the hands of a few individuals,” said Mutasa.

He accused the central bank of fueling the return of black market demanding an explanation why huge sums of cash are circulating on the streets despite withdrawal limits to ordinary citizens.

“It is our view that the Reserve Bank of Zimbabwe is responsible for fueling the black market as no ordinary citizen would access such huge amounts of money when banks have withdrawal limits known to all and sundry.

“As labor, we cannot sanitize this state carelessness with silence for another day as we are calling upon our constituency and every right minded Zimbabwean to condemn this genocide on our people by any means.

According to Mutasa, no one has confidence in the current government given its record of corruption and disdain for reforms.

“It is no confidence that there is no investor confidence anymore, the confidence that was cultured during the period of the Government of National Unity has evaporated and we are descending towards the 2007-2008 situation.

“No one has confidence in the current government given its dismissal record of corruption and disdain for reforms,” said Mutasa.

Meanwhile he called on Zimbabweans to join hands and push for economic reforms to solve the current crisis threatening to take the country back to the 2008 hyper inflationary period.