Addressing a Zanu-PF rally in Shurugwi yesterday, Vice President Constantino Chiwenga said Government will reintroduce the Zimbabwean currency at an appropriate time. He noted that the cash crisis was because Zimbabwe does not have it own currency.
We are all aware that we are using foreign currency (as a transaction currency) in this country. We do not have our own local currency like other countries. The cash crisis that we might be facing now is emanating from the multicurrency system because the money is not ours. As Government, one of our main objectives is to reintroduce our own local currency. This, however, will not happen overnight. Government will first stabilise the economy, open factories and manufacturing companies and ensure development.
Chiwenga’s comments come after Zanu-PF Representative in the United Kingdom and Europe, Nick Mangwana confirmed that Zanu-PF is working on introducing a local currency backed by gold.