“Introducing A New Currency Will Not Work”, CHAMISA

Opposition MDC leader, Nelson Chamisa has said that the plans by president Emmerson Mnangagwa’s government to abolish the multi-currency system in favour of a new local currency could spectacularly fail. He said that it is necessary to first fix the political crisis which he said has an influence on the economy. 

The problem that Zimbabwe faces is not currency, it’s politics. Until we fix our politics, deal with the legitimacy issues and address the fundamentals of the economy, introducing a new currency will not work, it’s about the fundamentals.

Even if they were to allow trade directly in gold as currency, with the current government which is illegitimate and does not inspire national and international confidence, the gold will still lose value.

Chamisa attributed the current economic meltdown to poor policies, alleged corruption and looting by top government officials and not sanctions as claimed by the government.

More: NewsDay

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