With the introduction of Zim dollar this morning many people have said a ton of things about Finance Minister Mthuli Ncube’s latest policy. Here are just a few selected tweets of what some Zimbabweans said:
Here we go my Zanu PF friends! pic.twitter.com/RWd12noyPd
— Pedzisai Ruhanya (@PedzisaiRuhanya) June 20, 2019
GUERRILLA ECONOMICS & ambush currency measures are ill-advised, destructive & confidence-draining. Zim-dollarization requires that macroeconomic fundamentals,public confidence, trust,fiscal discipline, political stability and legitimacy be in place for it to be fully sustainable.
— nelson chamisa (@nelsonchamisa) June 24, 2019
All they have done is to wakeup with the OLD & failed bondcoins, bondnote & RTGS$ as the NEW previously failed currency called the Zimbabwe Dollar. You will not find a legitimate government anywhere in the civilised & democratic world engaging in such crude currency racketeering! https://t.co/VpgsJzLIBU
— Prof Jonathan Moyo (@ProfJNMoyo) June 24, 2019
#DangerousBallPlay@MthuliNcube playing the self-destruct SI 142 ball for @edmnangagwa!#APictureTellingAThousandWords pic.twitter.com/SYyA3d0GjN
— Prof Jonathan Moyo (@ProfJNMoyo) June 24, 2019
2. It’s sink or swim for Mthuli Ncube. With the dramatic re-introduction of the Zimbabwe Dollar, he has taken the plunge. But is a change of name enough? They have changed names, from Bond Note & RTGS to Zim Dollar. Will it smell differently? A new name that’s not actually new?🤷🏾♂️
— Alex T Magaisa 🇿🇼 (@Wamagaisa) June 24, 2019
Zimbabwe doesn't have a currency crisis;Zimbabwe has a governance deficit. US$ is less volatile than most currencies & less likely to suddenly depreciate. 62% of all central bank reserves across the world are in US$. 90% of global forex trading is in the US$. You ban the dollar? pic.twitter.com/0HVcQhVxKb
— Brezh Malaba (@BrezhMalaba) June 24, 2019
Dear @nelsonchamisa
— #NotMyQueen (@TafadzwaMasang3) June 24, 2019
Musi uya wakati vamwe ma #STUPID but ndiri kuona kuti kwanga kiri kusekana kwavana kamba. US$ is not printed in Zim and shud nvr be used for local transactions, kutenga mazhanje ne cascade. Our own local currency is the only way to go.https://t.co/3ft1NVyjxj
3.3. The change from old #ZimDollar to USD/multi-currency, to BondNote/RTGS and now back to #NewZimDollar is a nightmare for accountants, statisticians, bankers, economists, etc. This is the main reason why currency changes should be well planned. 15@BrianRupiya @daddyhope pic.twitter.com/mYGZ4TodnP
— Prof. Mlambo (@MlamboProf) June 24, 2019
Banning the use of foreign currency and introducing Zim dollar is a desperate move to stop re-dollarisation, anyway they will not succeed. There is no incentive to continue selling with the dead currency, sooner or later goods will vanish from shops.
— Shame (@ExpBusinessSA) June 24, 2019
So in 2008 the same Zimbabwean Gvt that is there now decides to introduce a multi-currency system to save the economy. 11 years down the line they decide to bring back the Zim dollar to save the economy.
— Africa is Bleeding 😢 (@Shado_Shadoe) June 24, 2019
How? pic.twitter.com/T9AnEXRVEg
At the end of the day, no one is saying Zim shouldn't have it's own currency. We all want our own currency that we can be proud of, but what's the point if we haven't fixed the reason why the old currency died in the first place?
— Dom Not_Toretto (@Bik3r_boi) June 24, 2019
@nelsonchamisa's obsession with the US and now relatively the US dollar is unimaginably over board. No country will eva fully develop using another country's currency. Zim needs its own currency & a lot of production to improve on exports. Simple https://t.co/uWdCHmszS0
— Tatenda (@ttgono) June 24, 2019
So we have banned other currencies because we have invented our own “multi-currency” system … bond, RTGS Dollar and Zim Dollar …. all trading simultaneously 🤦🏾♀️🤦🏾♀️🤦🏾♀️ I have a headache #khiyakhiyaeconomics pic.twitter.com/JJuKcw2Cnn
— MaMjaphani (@MaMjaphani) June 24, 2019
So it is now official, Zimbabwe will introduce a new currency in 9 months. Well timed at the end of current IMF SMP in March 2020 and coincides with the tobacco selling season. And so right now is building on currency reserves and reducing imports. Zim Dollar coming home baby!!!
— Bla B (@bmusonza) June 21, 2019
"Zimbabwe to introduce a new currency in 9 months time." It seems the regime's 9 months is a weekend long. https://t.co/RtQQBgBwGk
— Dr² Hillary Musarurwa, PhD (@HillaryMusarurw) June 24, 2019
These tactics of introducing a currency in the dead of the night only serve to decrease confidence in your policies. Confidence, like respect, is earned, not legislated. There will soon be no money in the banks save for whatever you want to call that which you want to pay civil s
— Taz TG Mus (@tazmus982) June 24, 2019
N.B Did you know you can easily keep up with the rapidly changing exchange rates on WhatsApp? You just send the word Rate to the Techzim Market number: 0719696102. Or use this shortcut link: http://wa.me/263719696102?text=Rate
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24 comments
Yoooooh I don’t have words
Zimbabwe is not a safe country for investment
We need to study economics guys, most people have no clue how a proper economy should function.
Blaming Prof Ncube has become a sick song. All he is trying to do is to ensure that the economy of Zimbabwe follows established and successful economic principles.
Zimbabweans are so used to vodoo Gonomicis and Magabenics that we have totally forgotten that we are part of a global econonic system.
There is nothing amiss that Mthuli has done, its just that most of us no longer know basic economics. We are spebding valuable time listening to this very delusional day dreamer, one Nelson Chamisa.
Some people have taken the art and science of blaming anything that this government does to monstrous proportions. Lets give them a chance, this economy was severely barttered over thirty seven years. It was always going to take a lot of pain and time. Insults are never going to helpVla
Munangagwa was part of the government for 37years. Under this government it’s not about knowing economics. The problem is corruption and nepotism.
No my brother. What has destroyed Zimbabwe is a culture of we are the best at everything. We call our neighbours lazy, yet we the Zimbabweans failed to utilise the land we rightly got back from the colonists. We need to look inward. We lived on laughing at Zambians as being lazy… We should swallow our words as that country now produces more maize that South Africa. And don’t fool yourself into thinking that its the White Zimbos who are behind this success of Zambia. 90% of those whites went under within 3 years because up there no one is a sacred cow. 70% of their maize is from their small scale farmers and it is that even us here have survived on
Mxxm kungowawata too much waffling and mumbling for nothing
You are an idiot!!!!
why did the gvt introduce multi currency on the first place ….is it Chamisa ?..Try and find the reasons behind the introduction of the multi currency before playing the blame game…also for a currency to function it has to be backed by functioning industries .as far as i know 3/4 of industries have closed and so introduction of Zim dollar doesnt make sense coz in two weeks time everyone will be a trillionare due to hyper inflation…industries first the Zim dollar follows
If you still believe ‘Industries’ play a major role in the functionality of a currency rather of any economy, then I am sorry to be the bearer of bad news. There is no way these so called industries can be revived and work in the long run. That is a thing of the past, we; not just as Zimbabweans but globally, are well into what is termed as ‘the fourth industrial revolution’
The industries you speak of, atleast the ones I think you mean can no longer be sustained. Atleast not from a sane man’s perspective.
But in the end, this is only one humble man’s opinion. Our president is doing a fine job, you only need the eyes to see it. If you can’t then…you better get fit, cause it’s survival of the fittest. Leave the past where it belongs…behind you.
If you still believe ‘Industries’ play a major role in the functionality of a currency rather of any economy, then I am sorry to be the bearer of bad news. There is no way these so called industries can be revived and work in the long run. That is a thing of the past, we; not just as Zimbabweans but globally, are well into what is termed as ‘the fourth industrial revolution’
The industries you speak of, atleast the ones I think you mean can no longer be sustained. Atleast not from a sane man’s perspective.
But in the end, this is only one humble man’s opinion. Our president is doing a fine job, you only need the eyes to see it. If you can’t then…you better get fit, cause it’s survival of the fittest. Leave the past where it belongs…behind you.
Nhai Anonymous why act as if the global economy began with Mthuli. We have alwaes been in the global economy even nguva yana Gono. So yu gotta shift your argumebt from that global economy perspective and give us a real tangible argument. Nt everyone is an economics amartuer
#MyView
Well said
Yep…battered by who by the way? You’re free to give them a chance – I’ve lost 39 years of my life and ALL my patience with people who pretend that they know what they don’t….and have much less respect for those cheering them on. idiocy is a choice – don’t spread it.
Let’s bring home all those billions of corruption money…so we can stabilise this currency
Civil servants 700R really per month come on Zim government
When will we praise wht our government bodies for the good . We are very good on blaming we need to support what come in the ground.
Given the land we blame ,being the best to be educated we blame. Where are we going.
Chakanaka karumbidza pamabasa veduwee
What a country withoit mari yayo look at the eye on tht dollar what does it mean?
According to histronomics the government is simply doing a Zobin Hood on Nostro accounts in a last ditch effort to survive on gullible Nostro financers of a dead and broke system
zimbabweana are not americans, they are not british they are not south africans neither are they twnana, nations of the world keep your currencies and we will keep our zim dollar. Mthuli keep it up we will definitely see normalcy in the pricing regime in the short to medium term.Transacting public are happier now than ever before kwete kuti chingwa chotengeswa ne$5 measures should be put in place to punish those defying govt order.
@pedzie. You are another idiot!
You think prices will come down because the fin minister of a broke nation has banned transacting in USD?
@Vladmir Vilakazi, you sir are the one that is in a dream world. What Prof Ncube has done now is just simply idiotic. The reintroduction of the ZW$ with nothing to back it is just asking for failure. We are a nation that imports more than we export. Simple economics here, we are spending more than we are earning, does not take a rocket scientist to see that and for as long as we are like this, the ZW$ will fail. Government needs to step up and sort the economy. Sort out industry, get this producing again and exporting. Sort out the farming, take the land away from ministers who are doing nothing with it and give it to those that have the ability to produce. Let us become the bread basket of southern Africa again, not the basket case we are now. As a business owner in this country it is very difficult to work here. With all the regulations that are in place the red tape, the inefficiencies of government departments to get things done, the rip off prices, the corruption. All of these thing need to change in order for Zimbabwe as a nation to start moving forward. Every time Prof Ncube opens his mouth we are hit with some crazy tax or some crazy law like the one announced yesterday. Banning the US$ or any of the other currencies is not the answer to the problem, if any thing, its going to make it worse.
Its good to use our own money let’s support the government #zim$
chako ndechako kuseva unosiya muto
It is good to have our own currency true. But I think its too early for us. Lets clean the hse first, All the things that are swept over the carpet lets take them out before taking of ZW$.
Hatina hedu kunyatso dzidza asi ndomafungirowo angu