Zimbabwe needs to set up the right incentives and restore confidence for citizens to be willing to transact, if it is to introduce a local currency, the United Nations Development Programme (UNDP) has said.
UNDP senior economic advisor Amarakoon Bandara told delegates attending the Zimbabwe National Chamber of Commerce that the country needed to reduce price uncertainty by way of insuring against inflation and reinforcing independence at the central bank, thereby strengthening prudential regulation.
For example, people like to keep cars.
I have seen that even in front of smaller houses people park cars and I was asking why people were doing that.
I thought the house was a poor man's house. The reason is they won't keep money in the bank because the trust is not there yet, Bandara said.
Source: The Standard
UNDP senior economic advisor Amarakoon Bandara told delegates attending the Zimbabwe National Chamber of Commerce that the country needed to reduce price uncertainty by way of insuring against inflation and reinforcing independence at the central bank, thereby strengthening prudential regulation.
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| Zimdollar return demands citizens' confidence. |
I have seen that even in front of smaller houses people park cars and I was asking why people were doing that.
I thought the house was a poor man's house. The reason is they won't keep money in the bank because the trust is not there yet, Bandara said.
Source: The Standard
