John Mangudya was appointed for a second and final five-year term as central bank governor of Zimbabwe. He was appointed by Zimbabwe’s President Emmerson Mnangagwa recently. His first appointment for a term of five years started since 2014. But his term was marred by the bank’s decision to introduce the surrogate bond note currency two years later in a bid to end a severe scarcity of U.S. dollars and cash. The extension took effect from 1 May 2019 for another five years. Zimbabwe is gripped by a severe shortage of dollars that is crippling the country. That also has adversely affected the import of food and medicines for hospitals.
