News / Local
Economy to tick in nine months- Jacob Mudenda
05 May 2017 at 19:14hrs | Views
Speaker of Parliament Jacob Mudenda has claimed that the collapsed economy will be 'ticking' in nine months time.
Mudenda told guests at the launch of the Zimbabwe Parliamentary Journalists Forum this evening in Harare.
"In nine months the economy will be ticking, there will be plenty of US$s.
" If that doesn't happen come cut off my finger" said Mudenda.
He added "Things will improve, create hope and not give impressions that everything is gone".
Since the introduction of the bond notes in November last year, the dollar has slowly become elusive.
The surrogate currency is at par with the dollar and is backed by the $200 million facility from the African Export-Import Bank.
The shortage has spawned a parallel market, with businesses coming up with different prices for the same goods where they offer discounts for United States dollar users.
Zimbabwe abandoned its own currency eight years ago and adopted mainly the dollar, initially halting hyperinflation.
Now, with a floundering economy and a strong dollar stoking imports and curtailing exports, banknotes have virtually disappeared, prompting several banks to cap customer cash withdrawals at between $30 and $50 per day.
Mudenda told guests at the launch of the Zimbabwe Parliamentary Journalists Forum this evening in Harare.
"In nine months the economy will be ticking, there will be plenty of US$s.
" If that doesn't happen come cut off my finger" said Mudenda.
He added "Things will improve, create hope and not give impressions that everything is gone".
Since the introduction of the bond notes in November last year, the dollar has slowly become elusive.
The surrogate currency is at par with the dollar and is backed by the $200 million facility from the African Export-Import Bank.
The shortage has spawned a parallel market, with businesses coming up with different prices for the same goods where they offer discounts for United States dollar users.
Zimbabwe abandoned its own currency eight years ago and adopted mainly the dollar, initially halting hyperinflation.
Now, with a floundering economy and a strong dollar stoking imports and curtailing exports, banknotes have virtually disappeared, prompting several banks to cap customer cash withdrawals at between $30 and $50 per day.
Source - Byo24News
