Zim economy has re-dollarised

Spread the love

CROSS border traders yesterday say a move by government to lift an import ban on basic commodities will boost their business, but pointed out that they were not to stabilise the local currency.

Instead, Cross Border Traders Association president, Killer Zivhu, said government must admit that the economy has self-dollarised as seen in most service providers rejecting the local currency.

Prices of basic commodities have been skyrocketing as the local currency continues on its free fall, but government accused businesses of sabotage and opened the borders in response.

“In the next three months we will make sure that everything (pricing) has normalised,” Zivhu said yesterday.

“We have requested more than US$100 million from financial instructions and they are willing to help us and our 3 million members across the country to import the basic goods.

“We have put in place measures where there will be open markets which will be done in all our districts in the country so that those who are in rural areas can have access to order affordable products in their respective areas.”

Zivhu however said the economy was self-dollarising.

“If you go to the major supermarkets, they will tell you that their swipe machines are not working. Dollarisation has already taken place informally but formally people are just pretending that the big supermarkets are running away from the local currency,” he said. – New Zim