Governor, Reserve Bank of Zimbabwe Gideon Gono of Zimbabwe

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The Reserve Bank Governor Gideon Gono has been reappointed by Robert Mugabe to serve a second five year-term.
The hugely unpopular Gono has been at the helm of the central bank since December 2003, during which period the country has collapsed into economic chaos, largely blamed on the policies he pursues.
Gono has publicly clashed with senior government officials, including ministers and multilateral funding agencies like the International Monetary Fund, over his insatiable appetite for printing money.
As pressure on Gono has grown with the collapse of Zimbabwes economy, he has blamed banks, the stock exchange, black market currency dealers and insurance companies.
Gono is among those undersanctions.
Gono is the weak link in the Mugabe regime because hes become incredibly powerful and incredibly bloated, and hes got very few friends in the system, said one activist involved in the project, who spoke anonymously for fear of reprisals.
Before he went to the Reserve Bank, Gono had a reputation as a solid banker.
In a live TV broadcast, Dr Gono said he was introducing a Z$250,000 note, a Z$500,000 note and a Z$750,000 note.
Gono was first appointed as Governor of the Reserve Bank in November 2003.
In November 2008, Gono was reappointed to a new five year term as Governor, beginning on December 1, 2008.
Gono has printed money against the advice of economists, but with full support from Robert Mugabe.
Backed by vice president Joyce Mujuru, Gono has several times called for an end to farm takeovers in a bid to stabilise agricultural production and halt inflation.
Gono has admitted that his efforts to rescue and improve the economy of Zimbabwe have failed.
Gono said there were several factors that were outside the central bank's control, which made it difficult to rein in inflation.
Critics and civic leaders allege that Gono has kept his job as the governor mainly through Mugabe's patronage.
Gideon Gono has spearheaded the campaign to make the land reform program a success.
As such, Gono has placed the RBZ at the forefront of fertilizer and machinery procurement.
The system that has flourished under your tenure Mr Gono is only friendly to greedy and well-connected senior officials who can afford to send their children to places like Australia (had it not been for those sheep shagging Australians deporting them) and buy luxury Mercedes vehicles using our tax money.
Gideon Gono said last year that large volumes of Zimbabwean diamonds were being smuggled to countries by over 500.
Reserve Bank Governor Gideon Gono was in South Africa last week and there are reports he approached South African finance Minister Trevor Manuel and Reserve.
Petrol and Diesel in September, RBZ governor Gideon Gono said some basic commodities would not be sold in foreign currency to cushion vulnerable groups.
Announcing the development, RBZ Governor, Dr Gideon Gono said the initiative followed recommendations by business leaders and noted that the move was.
Central bank governor, Gideon Gono said the initiative followed recommendations by business leaders noted that the move was expected to lift the depressed.
The Reserve Bank of Zimbabwe Governor, Dr Gideon Gono has warned the public against the use of fuel coupons as a means of payment.
Gideon Gono is the chairman of the Central Bank of Zimbabwe.
Harare, December 31 2008 - Reserve Bank of Zimbabwe (RBZ) governor, Gideon Gono has further increased weekly cash withdrawal limits for individuals to Zd5.
Gono is banned from travelling to travel to the United States and EU member states because of his role in the controversial Zanu-PF government of Zimbabwe.
Gono is a proven deflation-fighter.
Gono has years of practical experience in the field.
Johannesburg - Zimbabwe's central bank Governor Gideon Gono has been re-appointed for a second five-year term.
In an effort to deal with hyperinflation, Gono has introduced higher denomination notes and lopped a total of 13 zeros off the currency - 3 zeros in August 2006 and 10 in August 2008 - but it has continued to lose value.
Zimbabwe will slash 10 zeros from its currency from August 1, Gono said on Wednesday in another attempt to bring relief to consumers ravaged by hyperinflation.
Zimbabwe will slash 10 zeros from its currency from Aug 1, central bank Governor Gideon Gono said on Wednesday in another attempt to bring relief to consumers ravaged by hyperinflation.
has already proved that Gono is the epicentre of Zimbabwes financial system collapse.
After hitting the headlines by closing banks, bureau de changes and refusing to de-regulate foreign exchange policies, Gono has publicly supported the ruling party ZANUpf and appeared in that partys high-level political meetings.
Gono said he had written a lengthy letter to the World Bank in reply, inquiring what would happen to his being listed under sanctions.
The WB letter offering him a job as senior vice president and his response to their offer are both contained in the book Gono is selling for US$45 a copy.
In my humble book that we are here to launch, I dwell not so much on my personal history but mainly on shedding light on the deep philosophical drivers that shaped the orientation and conduct of the RBZ's monetary policy programme under my watch over the past five year," said Gono is his speech.
In short, as others have said, Gono has turned the RBZ into personal a bank for ZANU-PF, Mugabe and his cronies.
iii) Gono has destroyed banks by hounding business leaders.
fully aware of the short to long term effects of his concessions.
same tactic that Gono has adopted.
Zimbabwe and that Zimbabwe is Zanu PF, a lost assumption.
of enterprise than he does to the Chinese.
Zimbabwe will re-denominate its dollar by removing 10 zeros from August 1, central bank Governor Gideon Gono said on Wednesday.
Zimbabwe's annual rate of inflation has hit a new record high of 2,2-million percent, central bank Governor Gideon Gono said on Wednesday.
In Zimbabwe's 26 years as a democratic society, no governor has assumed the kind of power that Gono has and invariably his opinion and views have to be taken seriously.
The Zimbabwean economy has often been described as a patient in the intensive care unit and Gono has emerged as a specialist doctor to restore the life of this helpless patient.
It is common cause that Gono has been a governor for the last 36 months and his brief tenure will go down in history as a significant epoch event in the history of Zimbabwe.
There is a host of troubling constitutional, legal, political, and governance issues that arise out of the extraordinary role that Gono has found himself in.
Gono has successfully manipulated the nationalist pedigree of Zanu PF to locate his policies under a general umbrella of nationalism with a clear strategy to ensure that any critics can easily be labeled as unpatriotic with disastrous consequences.
There is a perception rightly or wrongly that Gono is behaving like the owner of the bank and his actions would not pass the test of good corporate governance.
Examples are many that clearly demonstrate that the RBZ under Gono is no longer accountable to its board and in turn to the parliament of Zimbabwe.
Having successfully made the case that property rights can be undermined with popular domestic and pan-African support, the RBZ under Gono came to the rescue in the onslaught against private property.
When Gono was appointed in December 2003, his first act apart from targeting the asset management companies was to announce a Monetary Statement whose sole purpose was to place all the exporters under the control of the RBZ.
At first, I did not believe that Gono was the man behind all this and I naively called him to arrange a meeting.
My case is one of many and it is important that we interrogate the hypothesis that Gono is not a villain but just a practitioner who is concerned about the progress of Zimbabwe and in advancing a national interest.
RBZ Governor Gideon Gono has a lot of questions to answer according to Boas Pondayi Magoronga.
inflation declined progressively from 622.
and his actions would not pass the test of good corporate governance.
onslaught against private property.
the progress of Zimbabwe and in advancing a national interest.
Gono has proven that there are worse things.
Indeed Gono has gone to some pains to portray himself as very religious.
Obviously Gono has a superior version of the Bible to any the writer has - perhaps The Expanded Bible - but the point is the man obviously takes the Christian faith with some seriousness.
In a country noted for its religious observance, Gideon Gono comes across as a true believer.
At the very least then Gideon Gono knew and thoroughly approved the massive assault on the civil liberties of the informal sector and the urban poor which was about be launched on the unsuspecting Zimbabwean public.
Indeed, in terms of political philosophy and economic policy, Murambatsvina so closely fits the successive stages of the so-called anti-corruption drive of which Gono was the author that it is difficult to resist the conclusion that this too was his brain-child - perhaps the capstone of his intended reforms.
The government will have to continue to control prices but Gono says that the Bakosi system will ensure that all are taken care of.
Gideon Gono is the Governor of the Reserve Bank of Zimbabwe and former CEO of the Jewel Bank, formerly known as the Commercial Bank of Zimbabwe.
Gono has also implemented a host of highly-criticised moves.
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Gideon Gono is the latest acquisition after the expiry of term for Mnangagwa who sought Joshua Nkomo 's blood in the early 80's.
Zimbabwe Central Bank Governor, Gideon GonoTHE Central Bank Governor, Gideon Gono has announced that he will re-denominate the Zimbabwe dollar by slashing 10 zeros and will introduce a new currency on 1 August as part of current efforts to fight the effects of hyperinflation.
Gono said during a press conference which was attended by President Robert Mugabe andbroadcast on national television.
Mawere said Gono was preoccupied with blaming others for the collapse of the economy yet he was to blame for most of the damage.
The economists said Gono had a bad track record, which was unlikely to improve, given the unchanged political environment.
Gono is the number one enemy of this country, not inflation, Biti,MDC-Harare East said.
Since taking over as governor of the Reserve Bank of Zimbabwe in 2003, Gono has implemented a host of highly-criticized policies.
Where is scarface? That poor guy, he is now unemployed.
What must be impressed on recklessly defiant people like Gono is that unless Zimbabwe mends up its relations with her main development partners, only barter trade will make the zeros go for good, since he is opposed to dollarization of the economy.
Gono is the central policy figure in Zimbabwe's attempt to resuscitate its economy, and the one who has been leading the negotiations with SA about a proposed financial rescue package.
Gono is concerned not only with "mundane" monetary policy issues such as the financial system, the currency and inflation , but also with co-ordinating Zimbabwe's economic strategy.
Gono has never made secret of his personal closeness to Mugabe, which reports have traced to his being the presidents banker, dating from the days when Gono was chief executive of the Commercial Bank of Zimbabwe.
Four years after all the hype surrounding his appointment and all the high hopes in his tenure by many, the December 23 2007 main headline in the Zimbabwe Standard was a harsh summation of how far Gono has fallen in public esteem.
Citing the thousands of Zimbabweans who had to spend the end of year holiday season in long queues for cash from their bank accounts, the story quoted Elton Mangoma, an opposition party official, as saying, Gono is clearly the biggest saboteur of Zimbabwes economy.
Defending himself in The Herald in an interview which was gently but still unusually critical in the tone of the questions asked by the states primary propaganda newspaper, Gono said The cash shortages that we see are a mere symptom of much deeper and greater fundamental misalignments in our economy than the ability or inability of the central bank to provide adequate cash.
Everything Gono says here is true, of course.
All these points had been repeatedly made by many long before Gono came onto the scene as central banker.
Some who had made similar points to those Gono is now making were accused of being traitors to the country and forced to resign their positions for publicly stating unpalatable truths.
While Gono has clearly been the most powerful central banker yet, with unprecedented latitude to try all sorts of economic experiments, he has met the ultimate brick wall: that there will be no solution to the countrys hyper-inflation or its cash, fuel and other shortages without going back to production, diplomatic, political and other basics which the ruling authorities have shown no inclination to do over the years.
In a way Gono is a victim of his own initial hype and over-promising of what he could achieve in the prevailing political environment.
Whatever his faults, Gono has indeed worked very hard at a series of unconventional interventions to try to tame Zimbabwes economic melt down.
Gono has also very carefully always made a sometimes almost slavish loyalty to Mugabe clear.
In an economic environment even worse than when Gono became RBZ governor, it is hard to imagine Mugabe finding anyone as bold and hard-working at trying new things as Gono has proven himself to be.
Gono says he knows most of them, but appears not to want to rock the political boat by naming them.