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By Marlvin Ngiza
The government has reiterated that it was not silent but prepared to come up with a plethora of counter-inflationary measures to bring stability to the economy.
This was said by Ministry of Information Publicity and Broadcasting Services Permanent Secretary, Nick Mangwana, in a weekly round-up session.
Mangwana stressed that the rise in inflation was perpetrated by unethical business practices hence the government’s responsibility to attend to the course in alleviating the suffering of citizens.
“The country is grappling with escalating prices due to unethical business practices. Rest assured government is coming up with lasting solutions to alleviate the suffering of the public,” said Mangwana.
Meanwhile, speaking on the country’s arrears clearance and debt resolution plan, Permanent Secretary Mangwana revealed that the plan was on a positive trajectory with stakeholders already working on modalities to finding concrete solutions.
“On the finance front, the country’s arrears clearance and debt resolution plan is shaping up with government, creditors, and development partners working on finding a lasting solution to the debt overhang, ” he said.
This Tuesday’s Foreign Exchange Auction has resulted in the weighted average rate of $US1 to $ZWL1404.8039.
Currently, $US1 has surpassed $ZWL3000 on the black market.
