Reserve money in Zimbabwe expanded 51 percent year-on-year to April 2026. Broad money, M3, grew 46 percent year-on-year over the same period, the fastest since the current central bank governor took office. The Reserve Bank of Zimbabwe has had two governors since 2014, both named John. Under John Mangudya, reserve money became a byword for panic. Then came April, and the fastest money growth of his tenure.