New Zim Currency To Be Introduced This Week – Tendai Biti

The former Minister for Finance, Tendai Biti said that the government of Zimbabwe is set to introduce a new currency this week. Biti, who is also the MDC Alliance national vice-chairperson wrote on Twitter that such a move will be pure insanity. Said Biti:

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.

There is no country in the world that has involuntarily dollarized that has ever succeeded in de -dollarizing. Zim will not be the 1st .Whilst a currency is about fundamentals ,ultimately the most important fundamental is confidence There is absolutely no trust in this regime.

Considering the #harm and #damage inflicted on this economy by its Central Bank over the years to now , the question to be posed is, does Zimbabwe really need a Central Bank? In my submission, it can and will do without one.

Biti’s claims that a new currency shall be introduced this week, however, have not been confirmed by the government. It remains to be seen if the government will comment on those sensational claims.

Related:

More: Tendai Biti Twitter Page

Tendai Biti

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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2 comments

  1. Nothando1 Reply

    Last time you announced your own election results ukanobatirwa kuZambia, now you still thinks you are the finance minister, leave that to Mthuli Ncube.

  2. un nothando Reply

    ths guys knows ..he is an economist nd u ar not nothando…even zec doesnt know actual results so neither of u me him them is realistic.

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