Mthuli Ncube ‘Corrects’ Biti On Zim Dollar Reintroduction, Says We Are Not Ready Yet

The Minister of Finance, Mthuli Ncube rejected claims made by former Finance Minister Tendai Biti that Zimbabwe is set to introduce a new currency this week. According to 263Chat.com, Ncube that the government has a game plan and will stick to that. He also reiterated that Zimbabwe will have its own currency within 12 months. Ncube is quoted as saying:

He is not in government, we are… I think he is free to comment on anything frankly and also as a member of the opposition, that always welcome, it keeps us on our toes.

However, we have policies, we will do it (introducing the Zim Dollar) when we are ready. We have a game plan, we have a roadmap, we will do the needful when tie conditions are right.

… I cannot give an outline but I have always said and been consistent in doing so, that in 12 months’ time we should have our own currency in the monetary system and I still maintain that.

Earlier on Monday, Biti tweeted:

The regime will this week introduce a new Zimbabwe currency not backed by any #reserves & without the context of structural reforms which a prerequisite of currency reform . That move is pure undiluted #insanity . An unbanked currency is just the #bond note by another name.

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More: 263Chat

Mthuli NcubeTendai Biti

Professor Mthuli Ncube is the Minister of Finance and Economic Development.He was the Chief Economist and Vice President of the African Development Bank ,financial, economics, investment, and public policy expert, entrepreneur and academic. Professor Ncube divides his time between the private sector in Switzerland and... Read More About Mthuli Ncube

Tendai Laxton Biti is the president of the People's Democratic Party, a prominent lawyer, activist, politician and Member of Parliament for Harare East. Biti was part of the founding team of the Movement for Democratic Change in 1999 together with Morgan Tsvangirai, Gibson Sibanda, Welshman... Read More About Tendai Biti

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