Zim’s Gono blasts local takeover bill
Gideon Gono, the governor of the Reserve Bank of Zimbabwe, on Thursday condemned a recently passed law which requires foreign companies to transfer 51% of their ownership to citizens of the country.
In comments confirmed by the central bank, Gono told the Financial Gazette, a Zimbabwean daily, that the law, which came into effect on 1 March, would be the "final nail" in the coffin of the southern African country's economy. "Banking is a unique field that requires unique structures," he said.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Governance
Moldova to switch reference currency to euro
Change reflects “economic realities” as country moves closer to EU
The monetary base and seigniorage in a digital era
Emerging markets and low-income countries may have to lower their expectations of seigniorage revenue
Fed makes post-presidential election rate cut
Chair Powell stresses Trump’s election will have no effect on near-term policy; has no plans to resign
Thailand delays selection of central bank chair
Decision follows warning against political interference from four former governors
Combining central banking orthodoxy with innovation
Sergiy Nikolaychuk argues the future of central banking centres on adaptability as well as independence
ECB reviewing QE but 2% target ‘not up for debate’ – de Guindos
Completing banking union should be the “number one priority” for EU economic policy, says official
Mamo Mihretu on the radical reform of central banking in Ethiopia
NBE head speaks about monetary policy and exchange rate reform, opening the financial system and a fundamental reset of the economy
Suspended Bulgarian deputy claims he is fighting for central bank ‘independence’
Eurozone candidate country’s deputy breaks silence on suspension, and his fight to get reinstated