Larry Mavhima, one of the men credited with orchestrating Mnangagwa’s ascendancy to power together with former Cabinet minister July Moyo among others, has said that Zimbabwe needs to reintroduce its own currency.
Mavhima said the country needed to have its own currency so that it can shape its own monetary policy. Mavhima said this in an interview with the daily publication, NewsDay, when he was responding to a question on how he would advise Mnangagwa on Bond Notes.
Look, everything depends with (sic) the confidence levels of the people of Zimbabwe. We need our own currency and I am sure that in time policies will be crafted that will see the re-introduction of the Zimbabwean currency.
No country can exist without its own currency. At the moment, Zimbabwe is one of three countries in the world that doesn’t have its own currency and that is not sustainable. We cannot continue to work with the United States dollar as our currency, we have no control over its monetary policy. We need to have a currency where we can have control of the monetary policy. This government, this President is going to give direction that will give stability to the local currency.
Mavhima was once accused of treason by former Minister of Higher Education, Jonathan Moyo, for delivering Mnangagwa’s press statement to journalists, just after Mnangagwa had fled the country.
Read full interview here