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So Mnangagwa govt finally admits local currency wasn't sabotaged after all!

11 Aug 2023 at 16:26hrs | Views
We have said it numerous times before.

The Zimbabwe government is lying about saboteurs - who are usually faceless so-called 'regime change agents', supposedly operating in cahoots with 'our detractors'.

There is no such thing!

In spite of our spirited efforts at bringing these truths to the nation, we are always painted as 'unpatriotic malcontents' who are wishing harm upon their own country.

Well, in Shona we say, 'rine manyanga hariputirwe' - loosely meaning that, nothing can be hidden forever and the truth will always eventually come to pass.

This was the case with the sudden depreciation and freefall of the local currency a few months ago - in which, it reached an alarming low of around ZW$10,000 to the greenback on the parallel market - whilst the official rate was no better at ZW$7,000.

As a result, there was an inevitable skyrocketing of prices of goods and services - leaving most out of the reach of millions of ordinary Zimbabweans.

There was a time when a loaf of bread went for a shocking ZW$12,000 - this, as an average supermarket worker earned about ZW$150,000 per month - meaning his entire salary was only enough for 12 loaves.

With the expected public outrage, the President Emmerson Dambudzo Mnangagwa administration sought to duck responsibility by shifting the blame to the usual unidentifiable 'saboteurs' and 'regime change agents'.

The regime went on a feverish nationwide campaign, in which they attributed this 'sabotage' to the announcement of election dates by Mnangagwa on 31st May 2023.

The accusation was that, these alleged 'saboteurs' sought to sow disgruntlement amongst the general populace against the Mnangagwa government - with the ultimate goal of inciting them into voting ZANU PF out of power.

Of course, some of us knew the truth - and made every effort in telling it to the people.

Personally, I penned several articles revealing that the real reason the local currency was on such a horrifying freefall, was on account of the Mnangagwa administration printing unsustainably large quantities of Zimbabwe dollar.

This was aimed at feeding the black market, so as to buy as much US dollars as possible - which would be used in funding the government's campaign projects.

I even had some within the system sharing this information with me.

In so doing, there was too much liquidity on the market - as supply of the local currency failed to match demand - leading to its loss of value.

This had absolutely nothing to do with supposed 'saboteurs' or 'regime change agents' - unless, of course, if the Mnangagwa regime themselves were the 'saboteurs', since they printed all this cash.

The only reason the rabid exchange rate appeared to have stabilized for now is that the government simply stopped printing the useless money, as well as putting in place measures to mop it all up from the market.

So where am I going with all this?

This week, in the mid-term monetary policy review statement, the RBZ (Reserve Bank of Zimbabwe) governor John Panonetsa Mangudya, pledged that the local currency would remain stable for the foreseeable future.

On what basis did he make such a bold and audacious declaration?

Well, it is simple, really!

The government would not be flooding the market with Zimbabwe dollars, Mangudya assured the nation.

This is a clear admission, on the part of the Mnangagwa administration, that this was the real cause of the freefall we witnessed a few months ago.

The economics is simple enough - keep money supply tame, and the exchange rate will also be tame.

Where do 'saboteurs' and 'regime change agents' come in here?

The greatest act of sabotage and unpatriotism is the deliberate printing of huge unsustainable quantities of cash - simply for the sake of keeping Mnangagwa and ZANU PF in power by funding their campaign projects.

All this, knowing fully well the devastating effect on the economy for the ordinary citizenry.

This just goes to show what manner of people we have in office.

They would rather millions of ordinary Zimbabweans suffered, as long as Mnangagwa and his party managed to fundraise in the process.

After going hungry for months - due to unaffordable basic commodity prices - ZANU PF then gives these impoverished people a free box of two pieces of chicken and chips at its campaign rallies!

Yet, the party, through its government, would have amassed billions of US dollars from the flooding of the black market with the local currency.

If Zimbabweans do not want to open their eyes to who exactly is authoring their indescribable misery, then they have no one else to blame.

Every single one of us has the power to make a choice in life.

We can choose whether we want to continue in our poverty and suffering - or have a better dignified life, worthy of a country with over 60 precious minerals.

It is entirely up to us, whether we want to keep the architects of our pain and misery in power - simply because of two pieces of chicken and chips - or kick them out of office, in the hope of a better tomorrow.

We can do better, and certainly deserve better, as the people of Zimbabwe.

Surely, have we resigned ourselves to being beggars, who depend on the government for food, handouts and so-called 'empowerment projects' - which are nothing more than measures for Mnangagwa to keep beneficiaries on a tight leash?

Where is our self-respect and honour?

We all know who has destroyed our once prosperous country, and crushed our dreams and hope.

© Tendai Ruben Mbofana is a social justice advocate and writer. Please feel free to WhatsApp or Call: +263715667700 | +263782283975, or email: mbofana.tendairuben73@gmail.com, or visit website: http://mbofanatendairuben.news.blog/


Source - Tendai Ruben Mbofana
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