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Former Vice President Joice Mujuru says the statutory Instrument 142 of 2019 gazetted by Finance and Economic Development Minister Mthuli Ncube on Monday will not work.
Ncube on Monday banned the multi currency system and introduced a new currency called the Zimbabwe Dollar.
Said Mujuru, “We can’t work with miracle economic policies, no it won’t work waking up RTGS and Bond now being Zimbabwe Dollar. That is illegal and l once said it.”
The Opposition MDC said the government has ambushed the nation by imposing the new dollar.
“Despite government’s promise that it would introduce a new Zimbabwe currency in the next nine months while it addresses the fundamentals, the regime today just ambushed the nation and reintroduced the Zimbabwean dollar as the only legal tender in local transactions. This means that the multi-currency regime, which provided some modicum of decency and predictability, has been thrown out of the window in favor of the volatile local currency that is not backed by adequate gold and foreign currency reserves.
“In spite of SI 142, it is important to state that trust and confidence, which any transacting public must have before they use a currency, cannot in themselves be gazetted.
Today’s decision shows the lack of coherent, prudent and predictable policy, which is important to retain trust and confidence in a country’s economy. Policy consistency and predictability are key tenets for any economy to succeed.” Source – Byo24 INFORMATION IS POWER!-Thank you for the support. Please email all your articles, photos and breaking news, to firstname.lastname@example.org ,linkedin.com/in/sibusiso-ngwenya-563a572b or whatsapp to Mr Sibusiso Ngwenya 0044 79 3 9100534 for publication on the constantly growing online groups, currently standing as follows1)Zimbabwe News 4 us Zimbabweans 206,362Members2)ZIMBABWE NEWS, BUILDING A PROSPEROUS POST 2018 VISION 32,224 Members3) New Zimbabwe Vision group 18,708 members4) Newzimbabwevision.com website 22,802 likes22,796 followers.
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