Zimbabwe central bank calls for change as investment slumps

Zimbabwean economist John Mangudya who was appointed central bank governor poses in his office on March 24, 2014 in HarareForeign investment in Zimbabwe more than halved in the first six months of the year, the central bank chief said Monday, calling for the country to “fight the negative perception” that was scaring off capital. Central Bank chief John Mangudya said Zimbabwe needed to come up with credible policies and fight negative perceptions to attract desperately needed capital as the country battles economic crisis. “Investment inflows into Zimbabwe have remained subdued due to the perceived country risk,” Mangudya said in a monetary policy statement. Mugabe has ruled Zimbabwe since 1980, his more than three decades in power starting amid optimism but eventually characterised by corruption, enduring economic crisis and brutal crackdowns against political opposition.

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