Opinion / Columnist
Ncube casino economics killing goose that lays eggs
16 May 2022 at 06:25hrs | Views
THE Zimbabwean dollar is tumbling at a fast rate and it will only respond positively when there is a change of government. As long as we are going to have this current leadership, nothing will change.
Zimbabwe has been reduced to a banana republic where a President just wakes up and bans lending.
You cannot employ military tactics on the economy and expect it to work.
Employing guerilla war tactics on the economy will not work.
Reserve Bank of Zimbabwe governor John Mangudya should do the honourable thing and resign to save his face.
The catastrophic results of the announcement a week ago have claimed more casualties as companies have been cut out of much-needed funding. This was ill-advised and tantamount to committing suicide.
This is going to wipe out remaining productive sectors and plunge the country into another economic crisis.
The damage done since the announcement will last for many years to come.
Banks are likely going to retrench as they streamline their operations.
We are likely to witness a shortage of basic commodities like cooking oil, meat and sugar, among others.
Already, a 2-litre bottle of cooking oil is selling at US$7,09 up from US$3.
The economy is being led to the graveyard by Finance minister Mthuli Ncube and Mangudya. The two musketeers are toeing the Zanu-PF hook, line and sinker.
Zanu-PF should know it can rig an election, but not the economy.
The country needs to start afresh and engage all the stakeholders like opposition leaders, church organisations, civic leaders, non-governmental organisations, student leaders and chiefs, among others to iron out these sticking issues.
The economy has warped and collapsed. The regime has to stop its casino economics.
Zimbabwe has been reduced to a banana republic where a President just wakes up and bans lending.
You cannot employ military tactics on the economy and expect it to work.
Employing guerilla war tactics on the economy will not work.
Reserve Bank of Zimbabwe governor John Mangudya should do the honourable thing and resign to save his face.
The catastrophic results of the announcement a week ago have claimed more casualties as companies have been cut out of much-needed funding. This was ill-advised and tantamount to committing suicide.
This is going to wipe out remaining productive sectors and plunge the country into another economic crisis.
Banks are likely going to retrench as they streamline their operations.
We are likely to witness a shortage of basic commodities like cooking oil, meat and sugar, among others.
Already, a 2-litre bottle of cooking oil is selling at US$7,09 up from US$3.
The economy is being led to the graveyard by Finance minister Mthuli Ncube and Mangudya. The two musketeers are toeing the Zanu-PF hook, line and sinker.
Zanu-PF should know it can rig an election, but not the economy.
The country needs to start afresh and engage all the stakeholders like opposition leaders, church organisations, civic leaders, non-governmental organisations, student leaders and chiefs, among others to iron out these sticking issues.
The economy has warped and collapsed. The regime has to stop its casino economics.
Source - NewsDay Zimbabwe
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