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Sort out political mess: RBZ boss

BY NIZBERT MOYO

RESERVE Bank of Zimbabwe deputy governor Kuphukile Mlambo has called on the country to sort out its political problems, which he said played an important role in informing investment decisions.

Mlambo said this last Wednesday in Bulawayo during a lecture organised by the Women’s Institute for Leadership Development and the Lupane State University under the theme Unlocking Investment Opportunities in Zimbabwe.

“Political risks send a negative signal to potential investors into the country and discourage foreign direct investment (FDI),” Mlambo said.

“Low and stable inflation, exchange rate stability, sustained fiscal reforms and reduced debt overhang are characteristics of countries that have attracted significant FDI inflows and greater macroeconomic stability,’’ he said.

Mlambo said on a good note, inflation had significantly fallen from a peak level of 837,5% in July 2020 to 194% in April 2021, and was expected to fall below 55% by July 2021.

He said in order to improve the investment climate; Zimbabwe needed to further improve its ease of doing business and re-engagement with the international community.

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