‘Abandon bond notes, fire Mangudya and allow Mthuli Ncube space to flourish’ — Ex Finance Minister Mukupe


FORMER Deputy Minister of Finance, Terence Mukupe has emerged from his political hiatus to propose the axing of Reserve Bank of Zimbabwe (RBZ) governor, John Mangudya as a way of solving the worsening fuel crisis in Zimbabwe.

Mangudya is under fire for adamantly introducing the bond note 2016 while insisting the surrogate currency shall remain at par with the US dollar which was the anchor currency at the time.

The central bank chief said he was prepared to resign if things went otherwise.

The bond note has since tumbled and was now three times weaker than the US dollar, something that has ignited calls from among opposition supporters for him to surrender his job.

Fuel queues have become the order of the day as government continues searching for clues on how to remedy the crisis.

Mukupe has emerged as a surprise advocate of Mangudya’s ouster as the agenda is often linked to opposition loyalists.

“The current fuel supply chain is unsustainable,” Mukupe wrote on twitter.

“My take is we either need to raise the price of fuel to $4.39 or abandon the bond together with the governor and allow Prof (Finance Minister Ncube) Mthuli space to flourish.”

Mukupe worked with Mangudya as the Finance ministry supervises the central bank.

At no time did he make any attempt to remove Mangudya, who came under the spotlight two months ago when four Reserve Bank bosses were fingered by Zanu PF youth empowerment lobbyist Acie Lumumba in a messy foreign currency scandal.

They were later cleared of any wrong doing.

— NewZimbabwe

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