Former Finance Minister, Tendai Biti has just said that the government is going to introduce a new currency this week. The introduction of a new currency is expected to coincide with the presentation of the Monetary Policy statement by Finance Minister, Mthuli Ncube this week. On his Twitter account, Mr Biti said:
The regime will this week introduce a new Zimbabwe currency not backed by any #reserves & without the context of structural reforms which a prerequisite of currency reform . That move is pure undiluted #insanity . An unbanked currency is just the #bond note by another name.
There is no country in the world that has involuntarily dollarized that has ever succeeded in de -dollarizing. Zim will not be the 1st .Whilst a currency is about fundamentals ,ultimately the most important fundamental is confidence There is absolutely no trust in this regime.
Considering the
#harm and#damage inflicted on this economy by its Central Bank over the years to now , the question to be posed is, does Zimbabwe really need a Central Bank? In my submission, it can and will do without one.
Comments
21 responses
AAHHH YAAAA! ZVAKAOMA SURE,
tendai unonyeba chikomana just shut up
….
Uuum ma1 atanga
Ma1 atanga ,soon our RTGS accounts will be revalued,$100 bond will be $10 zim dollar
It’s not true Biti
Ah pakaipa veduwe, we cant have another useless paper like bond, Mangudya watadza basa na Ncube wako apa veduwe. Why cant you adopt the rand nhai. Harina muka we corruption
Who is biti
Someone who doesn’t hide behind anonymous names online, like you and me
We need our currency whether there are reforms or not.
We are waiting…
Ed is a failure
Tech zim please stick to reporting tech related news. This isn’t the way to generated your ad revenue. Think of you credibility first.
We are ready for it, we brace ourselves once again hoping for a better outcome . We better try than never , we all want a better Zimbabwe but we can not do that whilst using another nation s currency as our local currency . We better try , it might be painful and needs a lot of sacrifices but we stil need some light for a better economy for the next generation .
Are you mad ????
It’s impossible
It’s impossible he didn’t say so it’s propaganda he is fitting for his party this Media statement is wrong ask him direct now
Total collapse of the system. I don’t know what will make new currency work whilst the zw bond$ failed. Will the new currency be traded in foreign banks?? This is just day light robbery to the citizens of Zimbabwe Mr government. You don’t have your people at heart.
Guys let’s try and see
why why Zim why kutimamira ndokwamukuita
CHRIST JESUS IS NOT THE AUTHOR OF CONFUSION man is because he is double in his thinking 🙏👀PRAY and Seek
HIM THE CREATORS!!!HALLELUJAH