Opinion / Columnist
Thokozani Khupe reacts to Mthuli Ncube's banning of US$
27 Jun 2019 at 14:06hrs | Views
Dr. Khupe has noted the unprecedented demand, for her response in removal of the multi- currency's regime in the country. This demand is to be expected when you consider the massive effect of this policy shift and the place Dr. Khupe occupies in our political discourse.
As a former Deputy Prime Minister of the Republic, it is expected of Dr Khupe to first understand the reasons behind the change of policy, what it seeks to heal and how that will be achieved, before commenting on such a major and abrupt policy shift.
It is important that she is seen to be giving those who are elected to lead the necessary space and time to carry out their duties without unwarranted interference, whatsoever, and being seen as someone ready to always criticise even out of ignorance or malice.
It is against this background, that Dr Khupe is now issuing this statement having listened attentively to a press conference which the Finance Minister, Hon. M. Ncube gave on the reasons behind this abrupt policy shift.
According to Minister Ncube, the change was forced by a meeting which he held with a Teachers Union along with his Excellency the State President and other Ministers in which the teachers narrated their hardships in earning their salaries in RTGS, while the economy had dollarised itself.
The struggles of earning an income in RTGS, in a US Dollar economy is not an exclusive burden of teachers but indeed of all Zimbabweans, and in this regard the government can be commended for having a listening ear and taking swift action in responding to the cries of our people.
It must however be noted that this intervention is not without its unintended consequences, which can be dire and very catastrophic, especially for the poor and the vulnerable. Indeed the Minister did promise a raft of measures from the central bank to support this new currency but it is not clear how these yet to be announced measures will address the potential of empty shelves, as a result of lack of foreign currency by retailers to restock, since most of our basic goods come from our neighbouring countries.
The black market will inevitably return with the effect of eroding revenue collection by the State, and thereby destroy the State's capacity to spend on social programs, especially the social security net. The few locally produced products will sky rocket beyond the reach of ordinary folks and the mischief which this policy shift seeks to curb, will come back with a vengeance, which will be fertile fodder for our youths to fill the streets in protest of the hardships.
Listening to Minister Ncube, one did not get the sense that there is a long term plan with a defined path to some end goal, but for the sake of our country I hope one is wrong and indeed the Minister has "struck gold" through this policy change and the raft measures yet to be announced.
God bless Africa, God bless Zimbabwe.
As a former Deputy Prime Minister of the Republic, it is expected of Dr Khupe to first understand the reasons behind the change of policy, what it seeks to heal and how that will be achieved, before commenting on such a major and abrupt policy shift.
It is important that she is seen to be giving those who are elected to lead the necessary space and time to carry out their duties without unwarranted interference, whatsoever, and being seen as someone ready to always criticise even out of ignorance or malice.
It is against this background, that Dr Khupe is now issuing this statement having listened attentively to a press conference which the Finance Minister, Hon. M. Ncube gave on the reasons behind this abrupt policy shift.
According to Minister Ncube, the change was forced by a meeting which he held with a Teachers Union along with his Excellency the State President and other Ministers in which the teachers narrated their hardships in earning their salaries in RTGS, while the economy had dollarised itself.
The struggles of earning an income in RTGS, in a US Dollar economy is not an exclusive burden of teachers but indeed of all Zimbabweans, and in this regard the government can be commended for having a listening ear and taking swift action in responding to the cries of our people.
It must however be noted that this intervention is not without its unintended consequences, which can be dire and very catastrophic, especially for the poor and the vulnerable. Indeed the Minister did promise a raft of measures from the central bank to support this new currency but it is not clear how these yet to be announced measures will address the potential of empty shelves, as a result of lack of foreign currency by retailers to restock, since most of our basic goods come from our neighbouring countries.
The black market will inevitably return with the effect of eroding revenue collection by the State, and thereby destroy the State's capacity to spend on social programs, especially the social security net. The few locally produced products will sky rocket beyond the reach of ordinary folks and the mischief which this policy shift seeks to curb, will come back with a vengeance, which will be fertile fodder for our youths to fill the streets in protest of the hardships.
Listening to Minister Ncube, one did not get the sense that there is a long term plan with a defined path to some end goal, but for the sake of our country I hope one is wrong and indeed the Minister has "struck gold" through this policy change and the raft measures yet to be announced.
God bless Africa, God bless Zimbabwe.
Source - Thokozani Khupe
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