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Nyuuz
Mthuli Ncube defends ZiG-only supplier payments
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[QUOTE="Queen, post: 88439, member: 27"] ZiG-only supplier payments just forced the currency fight into daily business, and every company dealing with the government is stuck playing by that rule. Why the policy landed [LIST] [*]Finance Minister Mthuli Ncube backed ZiG-only supplier payments. [*]The government wants heavier ZiG demand from local deals. [*]Harare hosted the post-Cabinet briefing. [*]Backers think stronger demand could lift ZiG. [/LIST] Why Ncube thinks it could work [LIST] [*]Ncube argued that depreciation panic is not automatic. [*]Tighter ZiG supply could firm its rate. [*]Stakeholders feared quick forex switching would hit prices. [*]Economics, in his view, can cut either way. [/LIST] How officials are squeezing liquidity [LIST] [*]Authorities are actively choking off excess ZiG. [*]Negotiable Certificates of Deposits are part of it. [*]Interest-rate tweaks are also in the toolkit. [*]Those moves aim to steady circulation. [/LIST] Why suppliers are getting boxed in [LIST] [*]The government tied this shift to overpricing worries. [*]Officials checked common goods and service costs. [*]A pricing framework sets acceptable quote bands. [*]Higher bids get bounced from procurement systems. [/LIST] Where forex still stays available [LIST] [*]Foreign currency still covers imports when needed. [*]Businesses can tap banks for forex access. [*]Reserves, Ncube said, can handle import demand. [*]Gold and hard currency were both cited. [/LIST] [/QUOTE]
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Mthuli Ncube defends ZiG-only supplier payments
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