Renowned Economist, Eddie Cross revealed that Zimbabwe is going to have a new currency next month. Mr Cross revealed this as he was urging the government to increase money supply so that EcoCash agents trading cash will be out of business and bring stability in the economy.
The amount of cash in the market does not meet the demand. RBZ has to ensure that there is enough money in the market by making sure there is regulated and controlled printing of money so that we fill in the gap that is left by the recent move.
We are hopeful that when we get a new currency sometime in November as promised by Government things will then stabilise.
Eddie Cross is a member of the recently appointed Monetary Policy Committee, a committee that formulate policies affecting money supply and interest rates in the economy, which makes his statement credible. But of course, we already knew that a new kind of Zimbabwe Dollar is in the works since Finance Minister, Mthuli Ncube revealed it in August.
However, we just didn’t know when exactly will new notes and coins labelled “Zimbabwe Dollar” will be introduced- thanks to Eddie Cross now we know. Mthuli Ncube will most probably utilise the upcoming 2020 National Budget Statement Presentation to make an announcement of the new currency.
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12 comments
l don’t think Eddie Cross said we will have a new currency as if it came from him. He just highlighted what the government said in the first place so your story is rather misleading as if Eddie Cross has reviewed it exclusively
Another economic drunken move in the offing!!
BS this aint the time for fake news …I dont think I will ever open your website again … you don’t get it, if u know kuti temperature dzevanu dzakakwira ka u wouldn’t be shitting like this
Good day
What happened to the strongest currency 💴 in the region
Kikikiki… Yes, where are we now? And heading where???
I have heard so much about Zimbabwe’s new currency its beginning to bore me. At one time you needed a barrow load of currency to buy a toilet roll. Is there no one in government with a financial degree. Maybe l can help there. Its all so pathetic.
We have heard of this new coming currency some time back ,but they are not delivering the promise
“so that EcoCash agents trading cash will be out of business and bring stability in the economy” – This is a fallacy. The trading done by these agents is miniscule compared to the wider economy.
hahaha the strongest currency in the region about to be abandoned
let’s wait and see what they’re to deliver this time around, we just hope its not false hope
the government must be honest to people please. they promise new currency long time back. we are still waiting and suffering.
printing more money actually causes increase in inflation why cant they learn from their past mistake. The currency should be put on Gold standard for it to not cause inflation