gtag('config', 'UA-12595121-1'); Prof. Jonathan Moyo challenges Prof. Mthuli Ncube to speak out on economic implosion – The Zimbabwe Mail

Prof. Jonathan Moyo challenges Prof. Mthuli Ncube to speak out on economic implosion

Prof Jonathan Moyo
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EXILED former cabinet minister, Jonathan Moyo has taken a swipe at Finance minister, Mthuli Ncube for turning a blind eye to the deteriorating economic situation as the local currency continues to experience a sharp decline and prices soar.

The Zimbabwean dollar has collapsed against the USD with the black market rate now ranging between $3 800 and $4 000 while the official exchange rate is now at $1,800.

This has resulted in price madness in supermarkets which are now doubling prices, making commodities more expensive in a bid to break even.

President Emmerson Mnangagwa over the weekend blamed business operators for frustrating government efforts to stabilize the economy.

In a statement, Moyo had fallen back to the 2008 economic meltdown when the inflation rate surged to 231,000,000%.

“In the recent past, Zimbabwe’s economic direction has basically been the injudicious pursuit of a policy of appeasement of some vested Western interests, under the veil of market-centred mantras.

“It is therefore little wonder that, instead of getting the country out of the hole it dug itself into when it uncritically adopted Esap in the 1990s, Zimbabwe has fallen back into its 1990s hole to the depth of its horrifying 2008 levels to now dig itself even deeper into it,” he said.

Moyo added: “Professor Ncube, there is no need for a rocket scientist to tell you that the business community now being blamed for the current pricing and currency mayhem across the economy really has no horse in the forthcoming harmonised general election.”

He further warned that claiming sabotage only highlighted government’s failure to fix the mess.

“In the circumstances, I have two suggestions for your consideration.First, your silence while prices and currency markets go haywire is too loud.

“Everyone knows that you are the designated pilot of the situation that has now hit turbulence. The pricing and currency markets need to hear something substantive from you, something believable which they can trust and act on its positives and strengths.

“Second, and as former finance Minister Patrick Chinamasa and some captains of industry in the know will tell you, in times like this shouting matches and open brawls between government voices with discordant messages and the business community benefit neither party, but only serve to make the bad situation worse for everyone, and particularly for ordinary people who have no means of navigating the economic turbulence that’s threatening their livelihoods.

Moyo concluded advising the minister to urgently engage the business community.