RBZ Governor To Announce Bond Note Launch Date In Monetary Policy Statement

RBZ Governor To Announce Bond Note Launch Date In Monetary Policy Statement
Published: 2016 September 15 03:33:05 (2665 Views)


Reserve Bank of Zimbabwe governor Dr John Mangudya is expected to release more details on the intended launch of the Bond notes in the Monetary Policy Statement today.

The Monetary Policy Statement, which under narmal circumstances complements the Mid-Term Fiscal Policy Review Statement which has been presented by Finance and Economic Development Minister Patrick Chinamasa last week, is expected to contain uncertain changes as Chinama's proposition to rationalize the civil servant salary bill was rejected.

Economic analysts say that to complement the Mid-Term Fiscal review, Dr Mangudya will need to speak to supply side interventions in order to buttress his famous narrative of production.

This will be over and above the 5 percent export incentive scheme introduced in May to boost exports and ensure a sustainable flow of foreign currency.

Given that Cabinet shot down proposals by Minister Chinamasa to reduce the civil service wage bill, Dr Mangudya will need to announce how the central bank will raise funding for Government to boost and sustain its operations.

Already, a $150 million stabilisation facility with a regional financier has been negotiated for.

Government has been operating a budget deficit with the position expected to widen to $1 billion by year end from $623,2 million in the six months to June. To finance the deficit, Government has turned to the RBZ to issue Treasury Bills with around $726,1 million having been issued by the end of June. The central bank is yet to officially issue a statement on the amount of TBs that are in the market but estimates put the amount around $2 billion.

Analysts expect Dr Mangudya to give an assurance that the rising Government debt will not completely shut out private sector credit and to address the instability factor of TBs given that most of them are now of a long tenure.

The governor is also expected to address issues around the delays in external payments, progress made to support the multi-currency system particularly the use of the rand, the progress on arrears clearance, interest rates, financial inclusion and to give an update on the introduction of bond notes.





- Herald
 0

You May Like These Videos

Comments

| Comment With Facebook Submit

There are no comments.

Big Reads

Bulawayo prostitutes dollarise

by Staff Reporter | 2018 December 01 00:43:29

DRAMA as mourners fight over deceased loan sharks' loot

by B-Metro | 2018 November 30 23:35:19

'Tsvangirai's ex' on police wanted list

by B-Metro | 2018 October 19 12:39:23

Dumped man glasses wife's face with broken beer bottle

by Staff Writer | 2018 October 19 12:32:05

Zimbabwe prostitutes hike prices

by Zimbabwe prostitutes hike prices | 2018 October 18 17:13:08

Pastor shocks female congregant with new panties

by Metro Writer | 2017 March 28 10:50:44

Harare man steals 10kg mealie meal from neighbour

by Court Reporter | 2017 March 28 07:56:29

Four company directors die in Vumba Mountain plane crash

by Staff Writer | 2017 March 28 07:38:59

Man with 'deformed' body bashes parents

by Staff Writer | 2017 March 24 09:48:46

Mugabe Knows Nothing About The Zimbabwe Constitution: MP

by Staff Reporter | 2016 October 01 08:12:02

Troubled Harare Giants Dynamos Falls Into Another Deep Crisis

by Own Correspondent | 2016 October 01 07:49:17

Shock As Local Bank Denies 'Rich' Mugabe's Son Heifty Credit

by Own Correspondent | 2016 September 30 19:14:54

Mugabe "Home Coming" And "Thank You" Rally On Cards

by Own Correspondent | 2016 September 23 06:48:24

Prof Moyo Was Dumped By Western Embassies, Claims Mutsvangwa

by Staff Reporter | 2016 September 22 10:08:07

Prof Jonathan Moyo In Fresh Beef With War Vets

by Own Correspondent | 2016 September 22 07:48:10

You Are Too Old To Lead, Aging Zim President Mugabe Told

by Own Correspondent | 2016 September 22 07:19:25

Younger Lover Beats Up Sugar Mama For Cheating

by Own Correspondent | 2016 September 20 03:21:43

Anti-Corruption Commission Loses Property In Failed Probe

by Own Correspondent | 2016 September 20 03:18:19

Mutsvangwa's Son Caught Up In Rape Case

by Own Correspondent | 2016 September 20 01:24:00

REMAINING PSL FIXTURES: ONLY 7 WEEKS LEFT

by Sports Correspondent | 2016 September 20 01:21:33

Victims Involved In Horror Crash Named

by Own Correspondent | 2016 September 20 01:16:09

Man Kills Uncle For Taking Him To Prophet

by Own Correspondent | 2016 September 20 01:11:08

Mphoko Threatens Zimra Over Irregular Taxes

by Own Correspondent | 2016 September 20 01:07:44

China Pours $46m On New Parliament Construction

by Own Correspondent | 2016 September 20 01:05:11

SHOCKING:14 Year Old HIV-Positive Boy Rapes 7 Pupils

by Own Correspondent | 2016 September 20 00:04:55

Tajamuka Slams Zimpapers, Fumes Over

by Own Correspondent | 2016 September 19 11:56:42

Mthwakazi Activists Torment Mujuru

by News Editor | 2016 September 19 10:52:58

We Did Not Fire Live Bullets: Police

by Staff Reporter | 2016 September 19 08:09:20

Ruling On 58 Protesters Expected Today 



by Court Reporter | 2016 September 19 08:10:40

6 Zanu PF Youths Nabbed For Assaulting Cops

by Court Reporter | 2016 September 19 08:11:50

Mutare Con-artist Cracks Zanu PF

by Own Correspondent | 2016 September 19 08:13:32

MSU Student Caught Peddling Drugs Tor Tuition Fees

by Own Correspondent | 2016 September 19 05:29:18

ZIMRA Dishes Out Rewards To Faithful Tax Payers

by Own Correspondent | 2016 September 19 05:24:19

Headmaster ‘Steals’ $17 000 From School's Fees

by Own Correspondent | 2016 September 19 05:21:24

Mujuru Party Fails To Pay $15 000 For Printed T-shirts

by Own Correspondent | 2016 September 19 05:14:37

SHOCKING: Govt Appointed Criminals In Anti-Corruption Commission

by Own Correspondent | 2016 September 19 04:11:26

BOSSO CONTINUE WINNING WAYS

by Own Correspondent | 2016 September 19 04:09:07