MDC Alliance says it will join Rand Monetary Union if it wins 2018 Elections

The Morgan Tsvangirai led coalition, the MDC Alliance has said that it will join the Rand Monetary Union (RMU) if it wins next year’s harmonised elections. Former Finance minister Tendai Biti who is one of the members of the MDC Alliance said the Rand would solve some of the economic problems Zimbabwe is facing. Zimbabwe would join South Africa, Botswana, Namibia, Lesotho and Swaziland in the RMU.

Said Biti:

In the mid-term, we contend that the government must join the Rand Monetary Union and must adopt the rand as the principal currency of exchange in Zimbabwe, as South Africa is already our biggest trading partner anyway.

In the long term, the government must push for regional integration and the establishment of a monetary union in the Sadc and Comesa region. The regional currency in the new monetary union is Zimbabwe’s long-term currency.

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