Zimbabwe’s economy is hobbled by a clash of egos

Zimbabwean President Mnangagwa speaks in Harare. File picture: Siphiwe Sibeko/Reuters

Motorists queue for petrol at a fuel service station on the outskirts of Harare
Motorists queue for petrol at a fuel service station on the outskirts of Harare
INTERNATIONAL – At the heart of Zimbabwe’s economic paralysis is a personality clash.
Finance Minister Mthuli Ncube and Reserve Bank of Zimbabwe Governor John Mangudya don’t get on, are pursuing different agendas and at times issue directives without informing each other, two people with direct knowledge of the situation said.
The result: policies that are quickly reversed, confusing contradictions in public statements, an economy that’s forecast by the government to contract 6.5% this year and an annual inflation rate that reached 440% in October.

Source: iol.co.za