Larry Mavhima, one of the men credited with orchestrating Mnangagwa’s ascendancy to power together with former Cabinet minister July Moyo among others, has said that Zimbabwe needs to reintroduce its own currency. Mavhima said the country needed to have its own currency so that it can shape its own monetary policy. Mavhima said this in an interview with the daily publication, NewsDay, when he was responding to a question on how he would advise Mnangagwa on Bond Notes.
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Look, everything depends with (sic) the confidence levels of the people of Zimbabwe. We need our own currency and I am sure that in time policies will be crafted that will see the re-introduction of the Zimbabwean currency.
No country can exist without its own currency. At the moment, Zimbabwe is one of three countries in the world that doesn’t have its own currency and that is not sustainable. We cannot continue to work with the United States dollar as our currency, we have no control over its monetary policy. We need to have a currency where we can have control of the monetary policy. This government, this President is going to give direction that will give stability to the local currency.
Bond Notes are a currency of notes backed by a bond that the Zimbabwe government announced on 4 May 2016 by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya. The $2 denomination of the notes was finally introduced on 28 November 2016. More notes were... Read More About Bond Notes
July Moyo is a Zimbabwean politician who is a member of the Zimbabwe African National Union-Patriotic Front (ZANU-PF) party and the current Minister of Local Government. Public Works and National Housing. Moyo is the deputy secretary of Administration and former Midlands Governor. He has been... Read More About July Moyo
Jonathan Moyo is a Zimbabwean politician and former member of the ZANU-PF party where he was a member of the party's Politiburo. He is also the former minister of Higher and Tertiary Education. Moyo was expelled from Parliament as the (Tsholotsho North) Legislator in November... Read More About Jonathan Moyo