Addressing a public lecture organised by the Zimbabwe Congress of Students Union at Chinhoyi University of Technology during the weekend, Finance and Economic Development Deputy Minister Terrence Mukupe said the Zimbabwean dollar will return before President Emmerson Mnangagwa completes his first five-year term.
Mukupe said Zimbabwe cannot adopt the South African Rand if it does not have its own currency. Said Mukupe:
For now, we cannot be talking of having our own currency or even joining any monetary unions. Zimbabwe will have its own currency after putting the necessary fundamentals to deal with our own currency first, which will be there before the end of President Mnangagwa first five-year term as we would have managed to create the right and sustainable import cover.
That is also the time we will be able to join any monetary societies like the Rand Union if we so please. Uninformed economic analysts suggest that Zimbabwe should join the Rand Union, but it’s only possible to be part of that society if you have your own currency, which we don’t have.