Zimbabwe rules out flexible exchange rate

Zimbabwe's central bank governor Gideon Gono said on Wednesday 20 July that the country will not liberalise the exchange rate soon because of widespread indiscipline in the economy.

Responding to a letter from a Zimbabwean living abroad on the need for a flexible exchange rate published in the state-owned Herald, Gono said the market could not be left to determine the exchange rate because of greed by some players.

"For as long as a country has widespread indiscipline ... where market players a