News / National
Zimdollar idea rejected
11 Jul 2012 at 07:42hrs | Views
The Confederation of Zimbabwe Industries (CZI) yesterday shot down the idea of reverting back to the Zimbabwean dollar as a solution to the liquidity crunch in the country, saying that would be "diverting attention."
CZI president Kumbirayi Katsande was responding to the chairperson of the Parliamentary Portfolio Committee on Industry and Commerce William Mutomba who had asked his views regarding the use of the local currency.
Zimbabwe abandoned the worthless local currency in 2009 following years of hyperinflation.
Since the adoption of the multiple currency system four years ago, the country has been facing liquidity constraints after failing to attract new finance.
Katsande said the country should shift its focus from a Buy Zimbabwe campaign project to a Produce Zimbabwe project.
CZI president Kumbirayi Katsande was responding to the chairperson of the Parliamentary Portfolio Committee on Industry and Commerce William Mutomba who had asked his views regarding the use of the local currency.
Since the adoption of the multiple currency system four years ago, the country has been facing liquidity constraints after failing to attract new finance.
Katsande said the country should shift its focus from a Buy Zimbabwe campaign project to a Produce Zimbabwe project.
Source - newsday
