“We have been informed we cannot make anywithdrawals. We can’t buy the materials needed for our water harvesting project,” said chairperson of Nyatondo Village committee in Ward 19, Conorio Nyamaropa.
Three other leaders from Sedze (19), Bonde (19) and Mambemba Ward 22 face the same predicament. Secretary of Sedze village committee, Gladys Makombe, said it was heart breaking not to be able to access the funds after such a long wait.
Another disbursement of funds is expected in September if the wards use the money as planned.The Reserve Bank of Zimbabwe said it was working to alleviate liquidity challenges on the local market.
Economists say under a normal multi-currency system, the major source ofliquidity is export receipts and transfers. Liquidity also comes from capital inflows through offshore loans, grants, foreign direct investment and transfer payme- nts such as remittances from the Diaspora. – Tonderayi Matonho
Post published in: News