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Mthuli Ncube under fire over new currency

by Mandla Ndlovu
08 Nov 2019 at 14:51hrs | Views
Finance and Economic Development Minister Mthuli Ncube's move to introduce the Zimbabwe Dollar currency has been described as an empty thunder that will not bear any fruits an economic analyst has said.

South African based economic analyst Kelvin Mazhandu said, "The recent introduction of the Zimbabwean Dollar by the Ministry of Finance and the Reserve Bank of Zimbabwe is nothing but an empty thunder that will not positively impact the economy of the country or solve the challenges affecting the citizens.

"Mangudya and Ncube speak of easing the liquidity crisis but in reality their plan smells useless, feels useless and is indeed useless. The dummy that is being sold to the people is a false hope that the Zim dollar will wake up stronger and the people being able to afford basic commodities.

"Let's buy their false theory for a second. The question that we ask ourselves is that have they implemented enough economic reforms and economic fundamentals and seen the indicators that say if we put this currency suddenly we will be able to pay civil servants a decent wage? What Mangudya and Mthuli have done is just baptising the useless and toxic bond money and called it Zimbabwe dollar. Indeed, the more things change the more they remain the same."

Mazhandu urged Mthuli to convene a special economic dialogue to enable all stakeholders to discuss towards finding a lasting solution to the economic woes bedeviling the country.

Source - Byo24News