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Zim parliament to curb central bank governor’s powers

Defend Truth

Zim parliament to curb central bank governor’s powers

Zimbabwe's parliament overwhelmingly approved a bill to reduce the powers of the central bank governor Gideon Gono, who is accused of policies that ruined the economy. Finance minister Tendai Biti, a member of the Movement for Democratic Change party in the country’s unity government, says foreign donors are reluctant to fund the country because they fear their money could be misused by the Reserve Bank. The bill is the first major law to be passed by parliament since Prime Minister Morgan Tsvangirai and his Zanu-PF rival President Robert Mugabe agreed to joint government in February, following years of economic collapse. Read more: Reuters, The Telegraph

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