{"id":58818,"date":"2022-05-10T18:03:04","date_gmt":"2022-05-10T16:03:04","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/bancabc-denies-renouncing-govts-measures-to-address-the-economic-crisis"},"modified":"2022-05-10T20:20:58","modified_gmt":"2022-05-10T18:20:58","slug":"bancabc-denies-renouncing-govts-measures-to-address-the-economic-crisis","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/bancabc-denies-renouncing-govts-measures-to-address-the-economic-crisis","title":{"rendered":"BancABC Denies Renouncing Govt\u2019s Measures To Address The Economic Crisis"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>BancABC has distanced itself from an economic paper circulating on social media that was being quoted as the bank\u2019s response to the government\u2019s recently-announced measures to address the deteriorating state of affairs. In a public notice, seen by Pindula News, BancABC said it was in full support of the measures and will implement them. Reads the notice:<\/p>\n

We have been alerted of an economic paper circulating on social media which has been erroneously quoted as BancABC\u2019s response to Policy Changes recently announced by the Government. The paper does not reflect the position of the Bank, its Board or Management.<\/p>\n

The Bank is fully aligned with the directive issued by Monetary Authorities and will implement all measures as directed and in full compliance with the law.<\/p>\n

Meanwhile, former Finance Minister Tendai Biti says new measures announced by President Emmerson Mnangagwa on Saturday night to deal with current economic challenges will not work.<\/p>\n

Biti, who is the CCC co-vice president, describes the new measures as products of a \u201cbeer hall diatribe.\u201d<\/p>\n

The President announced various measures to restore confidence, preserve value and restore macroeconomic stability, which included restoration of lost value on bank be deposits with a US$1 000 balance and below as of the end of January 2019<\/p>\n

The government also reversed a ban on privately-owned public transport as a way of addressing transport challenges that had worsened in recent weeks.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. BancABC has distanced itself from an economic paper circulating on social media that was being quoted as the bank\u2019s response to the government\u2019s recently-announced measures to address the deteriorating state of affairs. In a public notice, seen by Pindula News, BancABC said it was in full support of the measures and will […]<\/p>\n","protected":false},"author":84,"featured_media":58817,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,8,35,12,15],"tags":[1493,2189,19],"class_list":["post-58818","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","category-twitter","tag-africa-press","tag-africa-press-zimbabwe-2","tag-zimbabwe"],"yoast_head":"\nBancABC Denies Renouncing Govt\u2019s Measures To Address The Economic Crisis - zimbabwe<\/title>\n<meta name=\"description\" content=\"BancABC has distanced itself from an economic paper circulating on social media that was being quoted as the bank\u2019s resp ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/bancabc-denies-renouncing-govts-measures-to-address-the-economic-crisis\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BancABC Denies Renouncing Govt\u2019s Measures To Address The Economic Crisis\" \/>\n<meta property=\"og:description\" content=\"BancABC has distanced itself from an economic paper circulating on social media that was being quoted as the bank\u2019s resp ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/bancabc-denies-renouncing-govts-measures-to-address-the-economic-crisis\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-10T16:03:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-10T18:20:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/05\/postQueueImg_6-627aacf5e28a6.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/bancabc-denies-renouncing-govts-measures-to-address-the-economic-crisis#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/bancabc-denies-renouncing-govts-measures-to-address-the-economic-crisis\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"BancABC Denies Renouncing Govt\u2019s Measures To Address The Economic Crisis\",\"datePublished\":\"2022-05-10T16:03:04+00:00\",\"dateModified\":\"2022-05-10T18:20:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/bancabc-denies-renouncing-govts-measures-to-address-the-economic-crisis\"},\"wordCount\":254,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/bancabc-denies-renouncing-govts-measures-to-address-the-economic-crisis#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/05\/postQueueImg_6-627aacf5e28a6.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zimbabwe\",\"Zimbabwe\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/bancabc-denies-renouncing-govts-measures-to-address-the-economic-crisis#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/bancabc-denies-renouncing-govts-measures-to-address-the-economic-crisis\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/bancabc-denies-renouncing-govts-measures-to-address-the-economic-crisis\",\"name\":\"BancABC Denies Renouncing Govt\u2019s Measures To Address The Economic Crisis - 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