Former Finance Minister, Tendai Biti, opines that the value of the RTGS$ to the US dollar will be 15:1 by August this year.
Biti chided President Emmerson Mnangagwa for his remarks that the local currency is the strongest in the entire SADC region. Said Biti:
In August 2019 the RTGS$ will trade 15:1 to the US$ There is no production yet consumption levels are huge.
To, therefore, claim that Zimbabwe has the strongest currency in the region is both zany and unscientific . Those who have authored these crises should simply zip their cartel mouths.
It will be impossible to turn around this economy without a resolution of the political crises. No amount of lies and tampering will alter this fundamental fact.
The sooner the cartels, muppets and mafia mis-running this country understand this the better.
While speaking during a live interview on a local radio station on Friday night, Mnangagwa sensationally claimed that the RTGS Dollar is unnecessarily stronger and should be devalued to make Zimbabwe’s exports more competitive.
Tendai Laxton Biti is a politician and currently one of the 3 Vice Presidents of the Movement for Democratic Change (MDC). He was elected the vice presidency in May 2019 at the MDC Congress. Biti is also one of Zimbabwe's most prominent lawyers. Biti is... Read More About Tendai Biti
Real-time Gross Settlement (RTGS) is a fund transfer system where the transfer of money takes place from one bank to any other bank on a "real time" and on a gross basis. Settlement in "real time" means a payment transaction is not subjected to any... Read More About RTGS