Economics
Zimbabwe's Ncube Touts Economy Amid Shortages, Inflation Surge
- Finance minister says country on way to a “better place”
- Zimbabwe mulls interest rate policy and inflation targeting
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Zimbabwe’s Finance Minister Mthuli Ncube touted the health of his country’s economy even as the southern African nation experiences fuel shortages and the highest inflation rate since 2008.
The government has put in place measures to liberalize the currency, curb spending and improve the management of state-owned companies he said in an interview with Bloomberg TV in Washington. Last month the country scrapped its insistence that local securities known as bond notes and their electronic equivalent trade at par with the dollar and allowed them to be exchanged in an inter-bank market that has seen the rate oscillate at about 2.5 to the dollar.