Reserve Bank of Zimbabwe Governor Dr John Mushayavanhu has caused a stir on social media with his remarks on the newly introduced currency Zimbabwe Gold (ZiG).
Dr John Mushayavanhu has left many Zimbabweans dumbfounded after publicly admitting to consulting a World Bank consultant because they did not know much about structured currency.
His remarks come a couple of weeks after the government scrapped out Zimbabwe Bond notes (ZWL) and introduced the new structured currency, ZiG.
Speaking at the Zimbabwe Independent’s post-monetary policy review breakfast meeting held in Bulawayo, Governor Dr John Mushayavanhu revealed that they didn’t know much about a structured currency.
He disclosed that they got a consultant from the World Bank who advised them on structured currency. Dr John Mushayavanhu claimed that a lot of things to do with structured currency came from the World Bank.
“We didn’t know much about a structured currency. We got a consultant from the World Bank. A lot of the things you’re seeing about the structured currency actually came from the World Bank.
He added that if people were going to blame him for the failure of the ZiG currency, they would in actual fact be blaming the World Bank who gave them the advice.
“So, if you’re going to blame me, you’re actually blaming the World Bank. Maybe they didn’t advise us properly. And if they did not advise us properly, it’s fine. Let’s refine it,” Dr John Mushayavanhu said
The video has sparked controversy on social media. Reacting to the video, Zimbabweans expressed outrage as they lambasted the governor and the finance ministry for introducing a currency they had no knowledge of. Netizens accused Dr John Mushayavanhu of shifting the blame and using the World Bank as a scapegoat for their incompetence.
Here are some of the reactions;
@MutedzvaMi73;
So they know nothing about structured currency but they have introduced it anyway
@Muza2206;
World bank and Mthuli thats a recipe for disaster. I am sure RBZ paid millions in USD for that ‘consultancy’ work. Imbavha idzi!
@drvictorryan;
see why l refused to back the currency based on the MPS. This is utter madness, now he doesn’t have confidence in his currency how does he expect the world to?
@mathias1malandu;
ESAP failure was blamed on IMF, sir if you take the advice means you have done due diligence.How can the world bank be held accountable by us the citizens,you the president and the finance minister should be accountable
@Ga58194222;
Still taking and following advice from The world bank?
Wonders will never cease
