Zim cash crisis: Zanu-PF MP 'asks Mugabe to force central bank chief out'

25th September 2017 By: News24Wire

Zim cash crisis: Zanu-PF MP 'asks Mugabe to force central bank chief out'

A Zanu-PF lawmaker has reportedly urged President Robert Mugabe to fire Zimbabwe's central bank governor John Mangudya, as the cash crisis continues to grip the country, with bond notes losing value rapidly on the parallel market.

According to The Standard, the Harare south MP, Shadreck Mashayamombe said that the ruling party risked losing the upcoming polls due to cash problems grappling the country.

Mashayamombe said that President Mugabe should immediately intervene, as it was going to be difficult to mobilise the party.

"As the political commissar of Zanu-PF in Harare province, I am appealing to President Robert Mugabe to intervene with speed to correct this mess. It will be very difficult for us to mobilise for the party. I had a meeting with church leaders at Stoneridge yesterday (Saturday) in my constituency. The first question that the people asked was about the issue of money.

"Mangudya has made our work as commissars difficult. We are targeting to mobilise over five million voters as a party and he [Mangudya] should go," Mashayamombe was quoted as saying.

This came amid reports that authorities in Zimbabwe planned to release up to $300-million worth of extra bond notes, in addition to the $200-million already in circulation.

The move raised concern the extra cash will fuel the black market in scarce foreign currency.

Zimbabwe’s economic crisis is deepening, with rising prices and reports of fuel shortages echoing a similar economic crisis that peaked in 2007-2008.