Citizens Coalition for Change leader Nelson Chamisa has called for full dollarization saying this will immediately remove distortions, multiple pricing, arbitrage and secure stability and save exporting companies from imminent collapse.
He said that Zimbabwe’s economy was tanking and Zimbabweans were suffering at the hands of bad leadership, poor governance and porous economic policies.
As the alternative government, Chamisa proposed the following to be considered and adopted:
- There is a crisis of confidence in the market, citizens are suffering from the price hikes and deepening poverty level. All gvt policies must be demand driven, inclusive and fully consultative. The recent attack on CZI position paper by government is regrettable and must never be tolerated!
- Stop the auction system and go for full dollarisation – this will immediately remove distortions, multiple pricing, arbitrage, secure stability and save exporting companies from imminent collapse and help all businesses and economic agents to preserve capital.
- In line with (2), we should immediately work on a de-dollarisation road map which is inclusive and evidence based and build on consensus as opposed to command economics and threatening businesses with statutory instruments.
- Embrace SMART agriculture with a view to foster more active role of the market & gvt providing oversight to minimise distortions caused by agricultural subsidies. The commodity exchange should be used as an effective vehicle for funding & marketing of agricultural commodities.
- To address the economic challenges (such exchange rate spiral and inflation) caused by short term finance on infrastructure, gvt must use long long term finance such as diaspora bonds (eg Ethiopia-the Grand Renaissance Dam) and public private partnerships to fund infrastructure
- Stop corruption and save US$2.8bn,being the US$1.8bn through illicit financial flows and US $1bn wasted in state owned enterprises and line ministries).This money, if saved, is a real game changer. Greedy, indiscipline and corruption stand as the biggest threat to the economy!
- We must embrace a genuine social contract, which is inclusive to move forward as a nation. Also Expedite a Pre-Election Pact on elections & reforms, constitutionalism and respect of human rights so we restore our integrity in the family of nations. Genuine dialogue is key!
