Tempers Flare Over Zimbabwean Monetary Policy, Independent Says

HARARE (Capital Markets in Africa) – Zimbabwean central bank Governor John Mangudya threw paper files at Finance Minister Mthuli Ncube in an argument over how to handle the nation’s monetary policy, the Zimbabwe Independent reported, citing people it didn’t identify.

The altercation took place at a meeting at the Treasury’s offices last week, the Harare-based newspaper said. After tossing the files at Ncube, Mangudya stormed out of the meeting and slammed the door behind him, leaving top government officials stunned, it said.

The personal confrontation erupted after differences emerged between Mangudya and Ncube over the direction to take on the monetary policy, amid concerns the central bank could reverse fiscal gains that have been made so far, the paper said.

Mangudya told the newspaper he was unaware of any differences between himself and Ncube and that the two have cordial relations. Ncube didn’t answer his phone and calls to Mangudya didn’t connect when Bloomberg sought comment.

Source: Bloomberg Business News