"Currency Reform Measures To Ease The Plight Of All People," Cabinet Minister
Information, Publicity and Broadcasting Services Minister, Monica Mutsvangwa, has said that the currency measures which the government is undertaking will address the plight of the citizenry.
She also announced that Cabinet has approved the currency reforms introduced by Treasury. As part of the reforms, the government introduced Statutory Instrument 142 of 2019, Government which marked the abandoning the multi-currency regime. Domestic transactions are now to be conducted in the Zimbabwe dollar.
Speaking to journalists during a 22nd Cabinet meeting decision matrix, Mutsvangwa said:
Cabinet noted with satisfaction the decision taken by the Monetary Authorities to abolish the multi-currency system and replace it with a mono-currency as contained in Statutory Instrument 142 of 2019.
This measure is a critical step towards the full restoration of a Zimbabwe sovereign currency as envisaged under the Transitional Stabilisation Programme. Cabinet also applauds the other supportive measures being introduced by the Reserve Bank of Zimbabwe to bolster this initiative.
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Cabinet noted that the decision was made at a time when social partners, Government, business, labour commenced meetings aimed at fostering a collaborative approach to the development of the national economy.
Cabinet calls on all citizens and stakeholders to close ranks and give maximum support to these measures which are designed to ease the plight of all our people and to place our country’s economy on a firm growth trajectory.
She also said that fundamentals such as increased revenue, decreased spending and budget surplus, all meant to sustain the new currency, have been achieved already.
More: The Chronicle
