Opinion / Letters
Bring back the Zimbabwe dollar
27 Oct 2015 at 12:19hrs | Views
EDITOR,
As a patriot in love with all things Zimbabwean, including the shelved local currency, I would like to request through your paper the gradual resuscitation of the Zimbabwean dollar.
Reissuing our own money as legal tender when conditions are conducive for its sustained power is one way we can truly empower our country and insulate ourselves from the shocks of economies we are currently tied to byway of borrowed currencies.
As long as the Central Bank meaningfully executes its mandate of managing the money in circulation, there is no reason why this design should fail. A national currency is an important measure of national pride and autonomy.
Look at what is happening in Greece. The cradle of Hellenic civilisation which constitutes a large part of European culture has been emasculated into a political and economic pariah because it has no control over its currency.
Had it circulated and managed the drachma parallel to the euro, disaster might have been mitigated.
Our own currency can be used to empower farmers most of whom are desperately waiting for implements so that they can maximise produce. Many people talk about history repeating itself but they are too pessimistic to apply it to positive estimations.
We were once the breadbasket of the sub-region powered by our own currency when we had the determination and drive to do our best. Big lending institutions like the International Monetary Fund are not big on empowering third world countries.
The fact that we are suggesting these changes for our nation from a layman perspectives while our economists are not doing much to educate us is worrying. Academia and policymakers should be seized with debates of national interest such as this one and communicate them in a language ordinary people can understand. We need more literature to be written on this so that our people's education is translated to the best interest of all.
As a patriot in love with all things Zimbabwean, including the shelved local currency, I would like to request through your paper the gradual resuscitation of the Zimbabwean dollar.
Reissuing our own money as legal tender when conditions are conducive for its sustained power is one way we can truly empower our country and insulate ourselves from the shocks of economies we are currently tied to byway of borrowed currencies.
As long as the Central Bank meaningfully executes its mandate of managing the money in circulation, there is no reason why this design should fail. A national currency is an important measure of national pride and autonomy.
Had it circulated and managed the drachma parallel to the euro, disaster might have been mitigated.
Our own currency can be used to empower farmers most of whom are desperately waiting for implements so that they can maximise produce. Many people talk about history repeating itself but they are too pessimistic to apply it to positive estimations.
We were once the breadbasket of the sub-region powered by our own currency when we had the determination and drive to do our best. Big lending institutions like the International Monetary Fund are not big on empowering third world countries.
The fact that we are suggesting these changes for our nation from a layman perspectives while our economists are not doing much to educate us is worrying. Academia and policymakers should be seized with debates of national interest such as this one and communicate them in a language ordinary people can understand. We need more literature to be written on this so that our people's education is translated to the best interest of all.
Source - Admire Mashanyare
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