Indian Community Proposes Barter Trade To Eliminate Forex Crisis

Rajshekhar Ray, the head of the Indian delegation at the CBZ International SME Indaba held in Bulawayo suggested that Barter trade could be used as a workaround to the shortage of foreign currency. Said Ray,

One of the solutions is, for example, we are trying to work on a barter system. A barter … meaning if I provide you machinery over here, let’s say I supply over a $1 million machinery, instead of taking cash I may take out something from Zimbabwe that is required in my country that Zimbabwe is producing in abundance, at a very competitive price.

So that is how one of the ways we can eliminate the foreign exchange crisis because it’s simple $1 million of machinery, so the Zimbabwean company is able to generate more money using that machinery.

I came here as a 10 year-old, the first time I landed in Zimbabwe it was just after independence, so it’s just sometimes destiny has different things for different nations but it’s about leadership at the end of the day.

Also Read:

Video: Villagers now doing barter trade for groceries due to cash shortages


More: NewsDay

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