Zimbabwe can't join rand monetary union - Mboweni

Tito Mboweni, the governor of the South African Reserve Bank, says Zimbabwe was far from being ready to join the rand common monetary area (CMA), which currently includes South Africa, Lesotho, Namibia and Swaziland.

"A very high degree of macro-economic convergence is necessary," Mboweni said, adding that Zimbabwe "has a long way to go".

"For any other country to be a part of the CMA they must fulfil the strict macroeconomic convergence criteria. This includes their fiscal policy stance and i