Chinamasa grilled over cash shortages

HARARE - MPs across the political divide yesterday grilled Finance minister Patrick Chinamasa over the Reserve Bank of Zimbabwe (RBZ)’s alleged involvement in the cash parallel market.

This comes as the RBZ is suing opposition NPF spokesperson Jealousy Mawarire for allegedly fingering one of President Emmerson Mnangagwa’s sons in alleged black-market currency trading in cahoots with the central bank.

Led by Zanu PF Zvishavane MP John Holder, legislators wanted Chinamasa to explain the reasons why cash shortages continue “even after the 100 days have lapsed.”

“The minister must know that we are aware it is the RBZ that is supplying the foreign currency on the streets,” MDC Mabvuku-Tafara MP James Maridadi said, after Mutoko North Zanu PF MP David Chapfika  said “state institutions are allegedly involved”.

Chinamasa said “I want to categorically dismiss the allegation that RBZ is behind it because all the money is accounted for”.

“All money from exports accrue to the RBZ and a big chunk of that is retained for imports of essentials, a small percentage is left with the banks so there is no forex that can’t be accounted for, the figures are there.”

Comments (5)

one thing that makes wonder is that at each and every street you see these money changers with large sums of money - blen new notes be it $2 dollar bond notes, rand notes, blend new $100 dollar notes etc. Where do they get them? If minister chinamasa can answer these question satisfactorily, then I will rest my case.

grace mubi - 10 May 2018

Why do these money mongers, who ply their illegal trade in the open and loudly advertise their ware not get arrested? Zimbabweans are not stupid, come elections 2018!!

Jonso - 10 May 2018

THEY HAVE FAILED TO SOLVE THE CASH CRISIS, HOW DO YOU GROW THE ECONOMY WHEN THERE IS INADEQUATE CURRENCY IN THE ECONOMY. #DONT VOTE ZANUPF, YOU ARE DOOMED.

Bango P - 11 May 2018

musatibhaize apa vachinamasa we know that fidelity is another major contributor to the rise of the black market together with some big companies We are not stupid

NUTTY DREADLOCK - 11 May 2018

Indeed the "Chief Cashier of shortages" stammered as usual in his responses to inquiries about the artificial cash scarcity in the country!!! proving his worthlessness in both cabinet and parliament.

Mukanya - 11 May 2018

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