Using US Dollars Bad For The Economy- CZI President

Confederation of Zimbabwe Industries (CZI) president Sifelani Jabangwe told The Herald that selling in US dollars only is bad for the economy.

Jabangwe said Zimbabwe’s economy will shrink by about 50% if the country dollarises. Said Jabangwe:

We see more companies wanting to sell in US dollars, but the issue is that we don’t need dollarisation as an economy. The economy will shrink by as much as 50 percent if we dollarise so for me it is not the right way to go. We have seen it with US dollars in the past that we won’t be competitive when using the US dollar.

More: Herald