Economist Ashok Chakravarti said every new market takes time to settle in order to be fully functional, which is why the market was performing the way it was. But he called on the market to be free of controls that were determined by traders.
“It was a Ponzi scheme in the past,” said Ashok Chakravarti, an economist and lecturer at the University of Zimbabwe. “Especially in the Gono era, where that chap just kept printing money.” Gono didn’t answer a call to a mobile phone number he has used in the past.
Prof Chakravarti unpacks the operations of the inter-bank Forex exchange market
On this edition of The Platform former Finance Minister Tendai Biti and Economist Ashok Chakravarti join Larry Kwirirayi in studio for their no-holds-barred reaction to the Reserve Bank of Zimbabwe Monetary Policy Statement
Economic consultant and University of Zimbabwe lecturer Professor Ashok Chakravarti said; “This is an extremely important development, which was essential in ensuring that the Transitional Stabilisation Programme can be achieved because on the fiscal side
Economist Ashok Chakravarti has said that for the first time in a long time, he feels Finance Minister Mthuli Ncube is leading Zimbabwe’s economy in the right direction as Zimbabwe has had an economic mess for 20 years.
Economist Ashok Chakravarti said the workers’ request for better working conditions was reasonable. “I am confident there are ways of raising additional revenues without increasing taxation, but it has to be part of a comprehensive reform package.”
Tangible economic turnaround would be witnessed this year if Government remains steadfast in dealing with the twin terrors of fiscal deficit and the failure to implement proper foreign currency management systems. This was said by prominent academic Professor Ashok Chakravarti in an interview yesterday.