ZANU PF MP for Chivi South, who is also the chairperson of the Zimbabwe Cross Border Traders Association ( ZCBTA) Killer Zivhu says that the monetary measures introduced by the Central Bank will move the country towards the 2008 scenario.
The Central Bank introduced bureau de changes after floating the local currency (RTGS Dollars), and Zivhu opines that this will fuel the trade of foreign currency on the black market. Said Zivhu:
Introducing the Pindula News Mobil App
Download from Google Play Store
Some bureau de changes will buy the money for themselves or use their relatives to take money to the black market where it will fetch more. Bureau de changes are just forex dealers so where there is money, they are always there.
We have bureau de changes changing US$10 000 per day, as a result, these people will not be able to get money at the bank rate because they do not qualify to measures put in place for the banks. Their only option will be getting forex on the streets, thereby increasing the demand on the black market.
As ZCBTA, the monetary policy is not favourable to our members. We are seeing a repeat of 2007 and 2008 if the RBZ governor does not listen to our advice. We had similar problems in 2003 as well when there were cash shortages and also in 2007 and 2008 when they refused to listen to our advice.
Zimbabwe RTGS Dollars are a Zimbabwean currency introduced on 20 February 2019 by the Reserve Bank of Zimbabwe. At introduction, the currency consisted of existing RTGS balances in bank accounts, Bond Notes cash and Bond Coins. The introduction of the RTGS Dollars was announced by... Read More About RTGS Dollars
Killer Zivhu is a Zimbabwean politician, member of Zimbabwe African National Union-Patriotic Front, He is a former Member of Parliament for Chivi South. He is also the founder of the Killer Zivhu Foundation and the Zimbabwe Cross Border Traders Association (ZCBTA). In December of 2018,... Read More About Killer Zivhu