On Monday Ncube banned the use of foreign currency in the country and introduced a new money called the Zimbabwe Dollar which is now the sole legal tender.
“Years after Emmerson and his lot are gone SI 142 of 2019 will be remembered as the turning point, their Sarajevo.” Biti said. “That moment it became clear even to the most ardent, that they had outlived their usefulness. That they had become a threat not only to the country but to themselves too.”
TENDAI BITI@BitiTendaiThere must be a government department somewhere in the President s office whose job is to create despair & suffering for the citizen.Take cash shortages, wages ,fuel queues ,inflation, bread & power blackouts. Take the Paynet shut down. This department is only functional gvt unit
The Former Finance Minister added that the Zim Dollar does not satisfy all fundamentals needed for a new currency.
“A currency is a mirror of the national economy. It reflects output. It reflects the current account. It reflects confidence and fundamentals. It is absolutely insane to de- dollarize without production, without reserves and with a confidence deficit. It is politics.”
Zimbabweans have received the banning of foreign currency with mixed feelings and expectations. On Tuesday some of the shops were closed to align their pricing with the new directive.
