Press Statement 4 of 2016: EMCOZ’s POSITION ON BOND NOTES
EMCOZ, which promotes and protects the interests of all Employers in Zimbabwe; supports the monetary measures recently announced by the Reserve Bank of Zimbabwe (RBZ), which are aimed at addressing cash shortages in the country, whilst simultaneously stabilising and stimulating the economy.
EMCOZ feels that in as much as the multi-currency system has been good for Zimbabwe, especially in curbing the historic 2008 hyperinflationary era; the strengthening US Dollar is now posing a threat to Zimbabwe’s economic growth trajectory. Cheap imported goods are now increasingly being dumped onto the market and cash is not making it into the formal financial system. This situation is not sustainable and it is important to directly address the causal elements of this malaise and refrain from focussing on the the symptoms manifesting themselves as nationwide cash shortages.
Click here to Read more: Press Statement 4 of 2016