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Mthuli Ncube speaks of Zim dollar imminence

24 Jun 2019 at 11:21hrs | Views
The imminent move to reintroduce the Zimbabwean dollar was first revealed to journalists in a meeting between Finance Minister Mthuli Ncube and media practitioners in an off the record meeting on Sunday.
 
Journalists who attended the meeting revealed that they were told at the outset that issues discussed should not be shared with the public.

However, state broadcaster ZBC TV let the cat out of the bag through a tweet that set tongues wagging.

"Some of the biggest drivers of black market rates are corporates converting their profits into US dollars on the streets. Measures imminent to deal with the issue," posted the media house during Sunday's meeting.

Through a Government Gazette on Monday, the government announced that the Zimbabwean dollar would be the only currency used in the country bringing to an end ten years of the multi currency trading system in the country.

The Zimbabwean dollar was abandoned in 2009 at the height of a decade long hyper inflationary period in Zimbabwe following the chaotic land reform at eh turn of the millennium and subsequent break down of the rule of law and human rights violations that saw the country facing isolation from Western countries.

After the ZBC gaffe information ministry secretary Nick Mangwana called out the broadcaster for publicising contents of the minister's meeting.

"They are bringing this down. The minister spoke off the record and common decency is that it should remain so," he said.

Source - Byo24News
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