No need for panic buying says Central Bank Governor Mangudya

The Zimbabwe Reserve Bank has assured the public that there is a sufficient supply of fuel in the country.

Central Bank governor Dr John Mangudya in a statement released today he said there is no need for panic buying of fuel and other essential commodities.

Dr Mangudya said the bank would like to assure the public that there is sufficient fuel in the country and therefore there is no need for panic-buying of fuel and other essential commodities.

The shortages, he said, are a result of opportunists manipulating foreign currency markets to cause panic.

Dr Mangudya added that the bank is grateful to the National Oil Company of Zimbabwe for working round the clock to ensure that fuel is delivered to the oil marketing companies across the country.

He said the bank would also like to reassure the public that the multi-currency system will remain in use and the bank shall continue to secure lines of credit to supplement the country’s foreign currency earnings, mainly from exports and diaspora remittances, to support the economy.

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