Dr John Mangudya, Governor, Reserve Bank of Zimbabwe In Conversation With Trevor.
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- Опубликовано: 4 дек 2021
- In this week's episode, Trevor sits down with Dr John Mangudya, Governor, Reserve Bank of Zimbabwe. They discuss the Governor's terms of office - gains and losses, transition from the multi currency system to a local currency system, the Dutch auction system and many more.
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Rest in Peace Doug Munatsa. Thank you Trevor for immortalizing Doug. Some of us only got an opportunity to know him a little through your show.
I like Trevors questions they relate to the struggles of people everyday in simple terms thank you for representing us Trevor!!
MR TREVOR you're a blessing to our nation... we're now expecting Nelson Chamisa on the Convention.
Trevor thank you for these conversations, they are an enlightenment. Use to hate everything and everyone in the government but I am starting to see that behind the usual suspects are good men who really want this country to go forward and it gives me hope that once the few bad apples that are left are gone, Zimbabwe will be great again, Governor you have earned my respect, keep up the good work we know the circumstances you are working in are tough but keep fighting for us, thank you.
Trevor is well balanced and level headed. I like the way he always thinks before he talks. He is considerate and respectful. To all the people close to him, my advice is be like sponges - suck in, learn as much as you can. Because of these conversations, we are also blessed to eat from his palms. Dr. Governor is also inspirational - a true gentleman. Imagine with all the pressure on his back, he still walks sane.
This Governor is a mirror reflection of me shifting a manual gear stick for the first time at 15. I was all over the show.
Tibvire apa ahufi wakaita mota
@@foxbat473 musatukane
Really can you share the experience
Zimbabwe is no. 1 in the world for the most miserable economy by economists. Is that by design or the governor?
@@TheChachona You probably not so well travelled based on your comment I have been to several West African countries including Nigeria. after that experience I thanked the almighty for being a Zimbabwean.
The courage to act wrong - is all i got from this conversation. Well done to Trevor for questioning the same way a street average person wld have done. The answers though, some arrogant moments where one believes Zimbabweans are hungry for no reason
Productivity .....change the culture to build a culture of hardworking, production, not short-termism... well said
Well hapana substitute ye hardwork baba and it takes time for anyone to realise the fruits of their labour
Matanga uripano
May Doug's soul rest in peace,I enjoyed the interview of the Governor,he knows his story ,it is the articulate side ,I realized the results of Bantu education in the way he conveys his message,your background follows right up to the grave hey..I relate.
Looking forward to your interview with Dr Mushayavanhu. Let’s unpack his blueprint and lets support him as Zimbabwean
Dr Mangudya...is he an Economist or a Politician, he is all over everything!!!!!! Thanx Trevor, you have a way of "Undressing the Emperor".
Thanks Trevor for the show. The Governor alluded to the fact that the drive towards buying forex is imports and store of wealth or value. So in order to address these 2 issues, there is need to stabilize the local currency and import substitution etc. I think there is great works in that regard, depending on who you talk to. However, my issue is around store of wealth and how it can be addressed. The RBZ should introduce gold coins, measured in ounces. People should be able to buy these coins using ecocash, at local banks using local currency, forex etc. This will enable people to store real value. and our true worth as a nation will be measured by the increase in gold coins per annum.
Unopenga the world moved from the gold standard in the 70s during Regan and Thatcher🤣🤣...NO Government cant "afford" to have a currency they cant manipulate
Well i think the gold standard as you have expalined there needs a not only one economy to participate, but its a universal system that relys on the common understanding and agreement on the one true currency that will be backed by gold for it to work properly.
You can do this brother if you the right paper talk to a lawyer or visit RBZ?
The President has had impact on the Governor I could hear the voice of the President through the Governor
Thanks Trevor, it's clear nothing transitionary there just some pompous individuals not admitting that we failed 😢
What are you saying? Are you saying we have failed with 75 % of locally produced goods in our shops as opposed to zero a few years ago?
Wakadzidza kupi?
Very true, the guy is a failure, a big one, how come he's talking of production which a few are paid, farmers are struggling everyday ... He must make sure that both producers and consumers are happy....
Aww Doug, what an exceptional individual, and very inspiring. I really loved and enjoyed him being In Conversation with Trevor. Thank you and Rest in His Love.
Thank you Trevor for your positive attitude and persistent logic to issues in Zimbabwe. We need solutions.
Rest in Peace Dougie. You were great 👍. Thanks Trevor & John. Very enlightening conversation indeed.
Governor Dr. JP Mangudya is greatly appreciated for this interview. Well done Trevor for relevant questions.
Mudhara Trevor you are a star i think if we had people like you in our government we should be somewhere as a nation ,but i guess you cant be mixed with this batch of our politicians munooreswa. We will need you as our advisor after August 2023 takugadzirisa nyika.
I am looking forward to this one Mr Trevor Ncube thank you . We need to hear his side of the story.
A superb interview Trevor, it takes a good listener to enjoy such conversations. Well done Trevor
His answer to why civil servants were paid in USD, is completely enigmatic. It just manifests that the perplexities of the status quo are beyond his comprehension. A bonkers response, absolutely preposterous! When someone of his calibre gives such a paradoxical answer, it shows self-denial and egoism. Masquerading with his ostensible celestial economics, what kind of an antidote is that? He just reiterated Trevors point, lol.
Contemporarily, it's improbable to proselytize the people to adopt a woeful currency in retrospect, ghastly in the present, and a phantom in the future. He has failed; he should retire and play snooker with us!
But at the end of the day, his answers might just be political. After he is toppled, that's when you realise he is omniscient. He will be giving ingenious and quick-witted answers, not this balderdash, gobbledygook!
Ummm your language is too too strong
Can you please simplyfy for me
Thank you Trevor for raising these pertinent questions, which indeed require important clarifications from the Governor.
Except we didn't get answers. More of passing the buck
This conversation was esoteric thats why there is a lot of denunciation of John Mangudya
I have been waiting for this...Thanks Trevor.
Trevor is friends with all of these powerful guys...What a very well connected man !!
Your network is directly proportional to your networth 💪🏾💪🏾
@@mrrocca8531 very true
That was a good watch for me. Thank you Trevor for the questions. The questions are real and honest for us ordinary people.
Zimbabweans think they are geniuses and understand issues better than those qualified to be in their positions. WELLDONE Dr JM
This guy is a gentleman, well done Trevor for bringing him on.
The painful thing is that the governor doesn't acknowledge the failures that have costed Zimbabwean pockets and Zimbabwean lives.
I feel sad
Well lets hear what the man has to say!!
I lost a significant amount of my savings in the Zimbabwean banking system when our banked US dollars were converted to a worthless currency overnight using ficticious exchange rates and a bogus startutory instrument. So for now the little money I have remains safely tucked away under my pillow.
Confidence restoration means righting past wrongs and not foisting new experimental policies on an already overstrained public. As long as past mistakes are not addressed all these new measures will amount to nothing. No disrespect.
Thank you Trevor for bringing Governor Mangudya.
This was so informing. The way Trevor asked qsns was very intelligent
Simple questions which required simple answers..... Unfortunately, the answers to the simple questions were just not forthcoming
Thanks Trevor and Dr Mangudya
Very interesting thanks trevor
Very interesting conversation.
This is an interesting interview. Thank you Governor
Thanks Trevor. Can we have Tendai Biti please
the guy is smart esp pa paying usd to civil servants however ka life goes on kambotaurwa 2 times hakandiitiri mushe!
a very informative conversation gentleman, thanks a lot. i see a very patriotic, humble, focused man in Dr Mangudya, keep it up!
Like seriously????
The value of respect is slipping and falling. Respect for the individual, respect for ideas, respect for values.
I subscribe to the idea of the zwl being the primary currency. It needs support, discipline and change in mindset among us as Zimbabweans, from policy makers and general population.
You cannot grow an economy using a currency that you do not own, control or manage, it's akin to putting fate in your neighbour's hands. We need to take ownership of our currency, restore confidence in it, have discipline to manage it and share the cake.
Well said
Nice words. But kune Zanu PF they don't care about discipline and diligence.
Discipline starts with our leaders boss. You cannot expect mastudents pachikoro to behave when their headmaster and teachers are undisciplined. They should lead by example.
All blame falls in the hands of the Zanu PF Regime/Administration.
They are responsible for collapsing the economy in the first place.
They are responsible today for refusing to restructure the economy.
The Regime's fiscal & monetary policies reek of dishonesty.
The Regime introduced bond notes as currency and cheated
civil servants with salaries in bond notes yet it indexes everything else in USD.
The Regime rejects payments in "local currency" but pays in the same for most services.
The biggest criminal is the Regime. It is creating the parallel market.
The biggest smugglers of minerals/resources are mainly in Gvt or
strongly linked to highest offices.
Accountability only exists for the common man but not honchos and their families
or close friends.
Recently Chiwenga tabled an SI that removes auditing of Gvt spending from
the Comptroller Gen's office- why? What is the Regime trying to hide?
Last but most importantly, why is the RBZ under the manipulation of the President?
How much odius debt was created by Zanu PF leaders and passed on to the taxpayer as
public debt? What did the public benefit from those loans? Nothing!
A sizeable percentage of what is public debt today is from outlandish spending
and odius debt and runs in the billions of USD!
Forget about growing an economy or supporting a currency under a Regime whose
only preoccupation is wealth accumulation and self-aggrandizement.
Thank you Dr J.P Mangundgya.. we appreciate your hard work! we appreciate your positive attitude and point of view when analysing the status of the economy. however, however, please also respect us enough to admit that there is corruption, collusion and cartels that are operating having access to state funds to push their agenda, the likes of those cartels are those who buy fuel using auction FX and yet they sell to us in FX it's mind boggling how we are expected to cheer on and just remain respectful when we can see this is not correct!
I like this guy..ZImbabwe is run by some really Smart people and Mr Mangudya is one
Indeed dollarisation makes our products very expensive on the export market that much we agree JPM.
Brilliant questions Trevor and it is nice to hear the Governor’s response. Like others, l sensed contradiction as he initially states that our currency is the Zimbabwe dollar and then he states that for accounting purposes, we use the US dollar, the question of confidence in the currency is probably still not addressed
He is clueless we don't have the right people in these positions
Just wondering which currency they get their salaries just wondering?
This show should be remaned "HardTalk with Trevor"
@33:00min, great question by TN. What i did not hear in JM's answer is that, there is now legislation that says no one can wake up and say people's accounts now have some (useless) currency X and not currency they had banked Y. Since people no longer trust the financial system, only legislation is what will bring money from their pillowcases to the banks because legislation offers some level of protection and recourse if people's savings are to get messed with again. No one in their right mind will be lured to bank their 1million USD just because there is now a 5-7% p.a. interest rate when the risk that exists is that of potentially having all their money becoming 1 million (useless) X currency and no longer USD when somebody decides to say so.
Exactly they are not yet serious Interms of transforming the monetary policies in the country , until it is fully independent i will keep my money under the bed thank you!
All that this interview reveals is that the govt benefits from the chaotic monetary system while the vast majority suffer. We need to rid ourselves of incompetent govt.
Buy any amount of $BTC you can.
Trevor you are intelligent 👌
The governor is either seriously out of touch with reality or he is being economic with the truth and common sense. Either way he does not inspire confidence that the authorities actually know what they are doing.
This is going to be very interesting
Mangudya is quite sound. His analysis is pragmatic. Only that most Zimbabweans have become experts at brickbatting those in authority. Unfortunately being a constant critic does not pay. Lets be productive and take advantage of the current policy environment whilst it lasts.
How does the 3% - 7% interest equate with monthly bank charges?
Intellectually uninspiring..... Zimbabwe deserves a better and bolder governor who is not a "yes man" to the principals....
All reserve bank governors are yes men. Notice how they are all political appointees. That's the hint, even if they pretend to be independent. Blair's regret was that they didn't give the Bank of England true independence. That tells you everything.
Hapana kwatiri kuenda
'We are smelling success...'J.Mangudya...kkkk
I don't think, you may call it an obsession Sir, its that almost everything is priced in USD , thus one would rather have USD which becomes cheaper for them as compared to RTGS prices. The disparities between USD prices versus the RTGS is too much such that one would opt to use the USD instead. Probably thus the demand for it by many .
Anybody struggling with the volume? Maybe it is just my laptop or my hearing?
The Governor is very humble and thanks Trevor for the critical questions which you paused to Dr. Mangudya. I totally agree with the emphasis on production and maybe if the Central Bank's mandate would be expanded to focus more on ensuring that funds are directed to productive sectors or projects with dynamic comparative or latent advantage in the economy. With regards to the loss of confidence in our local currency, I wanted the Governor to elaborate more on how the market is anticipated to gain confidence in our own currency when the government somehow appears having more preference to foreign currency to local currency, particularly in an indistinct period of transition. The governor mentioned about the decision reached by government to pay the civil servant bonus in foreign currency in order to suppress the demand for foreign currency on the informal market. However, I was curious on how government would raise that foreign currency because if it is raised from the same source (informal market), I am skeptical it might even worsen the value of the local currency (opposite effect than targeted) since the central bank appear to offer a higher rate to the informal market as compared to what the ordinary person (civil servant in this case) may afford to offer to the market when demanding foreign currency.
Trevor you are the epitome of diplomacy. if I was interviewing this thug I would have trashed him so bad.
When I saw this week's guest I kinda knew I would be settling in for a comedy session, then sure enough 10 mins in the show begins. Needless to say I didn't think it were possible to be more confused 😕
Kkkkkkkkk the second comedy show I have watched here after Mthuli Ncube
Besides the highest zimdollar not does not buy a loaf of bread
Between 19 to 23 minutes clearly shows that the governor contradicts himself. one minute we are using the ZW$ as our official currency, next minute we are in a transition, hence, gvt needs to charge in forex and finally the gvt relies on the free flow of funds hmmmmm
That's good Hon. Doc .Mangudya, without God we are all nothing.
Who Moved My Cheese is a great book 👏 "The quicker you let go of old cheese, the sooner you find new cheese.” 😃 So bet the sooner people let go of the USD mindset, the sooner we will appreciate ZWL .
There is no ZWL. There is RTGDZWL$
@@nathanmajuru6317 thank you Nathan for your correction. I think similarly to one refering to ZAR/USD, one can get the sense by saying ZWL😊 regardless of not having mentioned RTGS as you further corrected me.
@@valentineshanganya4614 us$ you can have it. RtGDZWL you can't get in it in the bank if you do it is an inadequate amount or its a bunch of of notes that will not buy anything.
It is reasonable for people to prefer the us$. It works. Unlike the RTGSZWL . . .
Sale your goods and services in foreign currency for you to be able to pay your workers in foreign currency,
Please invite Biti on the show Trevor
This connects in with Eddie Cross interview
There is need to separate blockchain and cryptos. Blockchain is a technology platform and is necessary. You can use the technology to digitize our ID and passport and title deeds processes.
Crypto is built off cryptography and NEEDS a ledger such as a blockchain in order to ensure integrity. They need each other.
Crypto allows for so much when you have a DAO. No need to “separate” anything, and there aren’t enough developers on board with this sentiment anyways.
Zim needs 2 languages max, cut the Jesus shit, and return investment into our education systems.
Also we could be using our trillions of dollars in gold on creating and engineering new and innovative products. Are we thinking this far?
Africans haven’t gone anywhere. Same shit every year. We need to try drastic measures at this point, or just get finished off. Climate change will be roasting central Africa and destroying crops. Seems like lots of death is around the corner if we don’t step it up.
E have bright people in Zim, what I don't understand is why do we let people like mnangagwa and chamisa play with us. We have better people man. Douglas , Travor, Makudya, Manyika , Muthuli, so many not to mention. Guys let's build Zimbabwe .
Don't be a joker man. Mangudya is a little crazy if truth be told, Mutuvi is disgraceful. Which Douglas by the way, Mwonzora?? Don't be ridiculous mate.
I would like to thank the Govenor for trying his best to fix the economy, the problem in Zimbabwe is we have citizens who are always negative
Its depressing
U camt say Zimbabweans are negative when we had USd in accounts and was changed over night to zim bollars. Should we applaud for that? These people have crippled us.
though mangudya failed, his policies are better than those of his predecessor Gideon Gono who broke the world record by printing trillion dollar notes
That is my reality
Bring DR NO Mugwagwa also on the show Trevor.
With all due respect mr governor my buying power has been significantly eroded. Since 2016 2017.
Thanks so much Trevor for having Dr JPM at least there is now two of us seeing from the same pair of glasses. These rent seeking behaviors and short sightedness will come to pass. I am convinced that we are on the correct track with a few changes here and there.
Why is it rated qualitative from within.
Watching this in June 2022, the Zim RTGS has dropped 300% in value versus the USD in six months. Mr. Mangudya should be invited once again to explain himself. Shocking.
Trevor you forgot to talk about exorbitant Bank charges with the governor.
Bond notes did not work
Confusion dzega dzega 😂😂🤣🤣
Bring vanhu vane msoro not those who are calalists in our untold suffering
Who else is patiently waiting for Chamu Chiwanza?
Does Dr Magundya approve the private hiring of earoplanes by ED? If so, can he please justify the expenditure?
Is there a better way for managing the black market rates Hon .Dr.Mangudya? From the principles of leadership and management, how can you handle that area . Thank you.
Trevor is pragmatic.
WE CANNOT DEPEND ON THE PROBLEM CAUSERS TO BE THE PROBLEM SOLVERS. Zimbabwe needs new fresh blood in these high offices. Success is not theoretic. What is on the ground on the streets and homes of Zimbabweans is the true picture of our dire situation. He seems to be talking of some other country not Zimbabwe. How can we trust him right now.
Mangudya failed to explain clearly why the govt charges services in forex. Kundandama chaiko. So sad.
Exactly i ddnt get the answer too
Past matters history matters
Give this man a term extension
Umbuzo kuGovernot uthi atholakala ngaphi lawa ama Zimbabwe dollar njengoba engekho ezandleni zabantu? Ngibona angani u Governor mele ahambe phakathi kwabantu asitshengise lapho atholakala khona. Lokuthi nxa iulikhagele iZimbabwe dollar likhangeleka njani njalo bargain abantu able Access kiyo. Ngicabanga ukuthi ngendlela atsho ngayo ngabe siyayibona imali leyo ayitshoyo ebantwini in its physical form noma ngithi yona ncamatshe! Kungekholokho kutsho ukuthi imali isezandleni zabantu abavukela emsebenzini abafakelwa imali emabhanga ngaba What's his kuphela
Izwa accent yaWasu panaMangudya
ma1.....vakunyisiwa ndiyo economy
Not feeling this conversation at all.
Coz u were castrated
Governor is the Reserve Bank performing the lender of last resort function? Your tight monetary policy...the treasury bills and government bonds what is their currency denomination?
TREVOR,KINDLY HAVE DOUGLAS HOTO THE FIRST BLACK ZIM PENSIONS ACTUARY
This man is duplicitous and arrogant. He keeps running his argument towards “Zimbabweans are not moving forward” as though he is implementing some advanced measures that we are too aloof to understand. He does not take any responsibility neither is he honest when his methods clearly failed. We need to be honest. We don’t trust him, he must look that in the face and answer honestly.
This guy is just talking 'theory'.