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2008 here we come again, History repeating itself - Mashakada

by Stephen Jakes
26 Sep 2017 at 07:43hrs | Views
MDC-T deputy Secretary general Tapiwa Mashakada has said the economy is fast slipping into the 2008 scenario of a Ponzi scheme where speculative and profiteering markup pricing is taking place every day.

"We are beginning to see the tell tell signs of an impending economic crash. These are evident on the ground: Fuel shortages and long queues 2. Parallel market driven upward adjustment of consumer prices 3. Free fall of the bond note by a depreciation of 50% in a period of 2 weeks 4. A run down on the Reserve Bank Nostro account 5. Illicit financial outflows and externalization 6. Importation of luxury goods and loss of confidence," he said.

"As I warned at the inception when the surrogate currency was introduced, these are the things i said would eventually happen. Now the chickens are coming home to roost. Its a matter of weeks before shelves start to get empty. The sudden sharp increase in prices of consumer goods is shocking in an economy which is supposedly dollarized."

Mashakada said its now a broken record to keep telling people that the Zanu PF government has failed.

"The situation we are faced with demands change. This government is clueless and it will continue to drive the economy recklessly in their usual fashion. The coming elections present a choice between good and evil. Between the past and the future and between hope and despair. Young people I urge you to register in your large numbers and shape your destiny. We cannot imagine another 5 years of Zanu PF misrule. People of Zimbabwe have suffered enough. And the government is not taking the plight of the people seriously. The economy remains on auto pilot," he said.

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