News / National
'Bring back the Zim dollar or perish'
28 Apr 2019 at 09:19hrs | Views
United Kingdom based journalist Brighton Musonza has called for the return of the Zimbabwe dollar while describing the introduction of the multicurrency regime in 2009 as the worst economic desicion ever made by the country.
Musonza who arrived in the country a few weeks back said the multi-currency has had a far reaching devastating structural destruction of the Zimbabwean economy more than the record hyperinflation.
"The decision to adopt the US dollar as the official currency is the worst economic decision ever made in this country (Fact). The country could have easily nursed the Zim Dollar using the GNU political unity and trudged gingerly bit by bit.
"Whatever the excuses and reasons people may come up with; in my view multi-currency goes down as the worst decision ever made in the history of economics; and again like land reform we are now a case study in economics literature on what not do faced with such a scenario. And the only solution to this misery is a complete reversal of that madness."Musonza said.
Musonza added that failure to bring back the Zimbabwe dollar will lead to the country collapsing.
"Failure to do that you will all perish in those large structures of mansions and in your cars. Bring back the Zim Dollar or peril."
He further said the avalanche of high fuel consuming cars in the country was a strain to the economic purse.
"I have never ever seen a country with so many fuel guzzling 4x4s. The ones on the road and the ones on the market. Small and big expensive cars; not just in the city, in the rural too. More cars; high fuel demand. And high energy import bill; big impact on the current account. Current Account is the nerve centre of national currency."
Musonza who arrived in the country a few weeks back said the multi-currency has had a far reaching devastating structural destruction of the Zimbabwean economy more than the record hyperinflation.
"The decision to adopt the US dollar as the official currency is the worst economic decision ever made in this country (Fact). The country could have easily nursed the Zim Dollar using the GNU political unity and trudged gingerly bit by bit.
"Whatever the excuses and reasons people may come up with; in my view multi-currency goes down as the worst decision ever made in the history of economics; and again like land reform we are now a case study in economics literature on what not do faced with such a scenario. And the only solution to this misery is a complete reversal of that madness."Musonza said.
Musonza added that failure to bring back the Zimbabwe dollar will lead to the country collapsing.
"Failure to do that you will all perish in those large structures of mansions and in your cars. Bring back the Zim Dollar or peril."
He further said the avalanche of high fuel consuming cars in the country was a strain to the economic purse.
"I have never ever seen a country with so many fuel guzzling 4x4s. The ones on the road and the ones on the market. Small and big expensive cars; not just in the city, in the rural too. More cars; high fuel demand. And high energy import bill; big impact on the current account. Current Account is the nerve centre of national currency."
Source - Byo24News
