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Articles by Misheck Ugaro
Zimbabwe: RBZ Strikes Right Chords As Zimdollar Stabilises
The introduction of a transparent price discovery mechanism by way of the Dutch foreign exchange auction trading system on 23 June, 2020, was met with mixed views from all economic agents. Reservations were a result of past experiences stretching back to the early 2000s when the local currency was eventually demonetised due to some policies. Optimists learning from successful experiences in other economies favoured the new approach as a solution to the perennial exchange rate problem.
Zimbabwe: No Re-Dollarisation Since Zim Never De-Dollarised
The currency question poses a headache for the authorities. Through several policy measures starting from statutory instruments 32 and 142 of 2019, followed by a battery of other directives, the authorities have attempted to establish a mono-currency regime using a local currency called the RTGS dollar (Zimbabwean dollar). The objective was to enhance control over policy through currency sovereignty.
Zimbabwe-China Currency Swap - What Does It Mean for Harare?
Finance minister Mthuli Ncube's recent announcement on the signing of a currency swap agreement between Zimbabwe and China has drawn mixed responses from various economic players in Zimbabwe. On one side is the line of thought that says the arrangement may benefit only one side, namely China, because of the trade deficit between the two countries that is favourable to China.
Zimbabwe: Is the Zimbabwe Economy Transitioning to Normalcy?
The Mid-Term Monetary Policy Statement announced by Reserve Bank of Zimbabwe governor John Mangudya can be described as a well-intentioned "transition to normalcy" statement. It comes at a time Zimbabwe is grappling with an unstable macro-economic environment characterised by weak fundamentals including: Run-away inflation reaching 175% in June 2019 up from 5% in September of 2018.Unstable exchange rate characterised by a depreciating local currency.
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