Last week the Financial Times, a global financial publication published an article that accused the RBZ of secretly printing money to finance the government’s lavish spending. Suffice to say no one was really stunned.
The Reserve Bank of Zimbabwe has been known to do this over the years, with partisan spineless governors often indulging whatever spending fantasy the government of the day desires. What was damaging to the government was the exposure on a global level by a publication that a lot of people pay heed to. It’s a threat to the government we are open for business swansong.
Now the RBZ has come out guns blazing with a rebuttal
The rebuttal will fall on deaf ears
The Zimbabwean government and by extension the RBZ is well known for never taking responsibility for anything. They refuse to take responsibility for 2008 until this day. There have on occasion, denied something as false only for them to make a turn-around and say the opposite all within the space of a single day.
The accumulative effect has been that they have lost all credibility. Rebuttals from them mean next to nothing these days. Everybody has seen Treasury Bills being issued advertised in the state even after the government has said they will stop.