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Renewing Mangudya’s Contract An Insult to Suffering Masses: MDC

The Movement for Democratic Change has blasted government’s decision to renew Dr John Mangudya’s term as the Governor of the Reserve Bank of Zimbabwe (RBZ) saying its an insult to the suffering masses of Zimbabwe.

This comes after the Deputy Chief Secretary in the Office of the President and Cabinet, George Charamba announced that President Emmerson Mnangagwa was about to renew Mangudya’s contract for a second dance at the helm of the central bank.

Responding to Charamba’s remarks, MDC National Spokesperson Jacob Mafume said Mangudya had already provided for himself a resignation clause in a contract he signed with the public when he introduced bond notes.

“In any case he has already provided for himself a resignation clause in a contract he signed with the public. Mangudya pledged to resign if his creature known as the bond note failed, the authorities must just remind him of this pledge as opposed to rewarding him for mediocrity, incompetence and the arrogance he displayed when he was warned against the bond notes.

“To date the bond notes has created distortions on the market sending signals in the financial sector that have driven the price of the US dollars sky rocketing, creating multiple exchange rates ultimately driving out good money and creating a multi-pricing  situation in Zimbabwe,” said Mafume.

He added that Charamba is praising a man whose ideas and conduct are at the centre of destruction of the Zimbabwean economy adding that as a party, they were against Mangudya’s continued stay in office even for a single extra day.

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