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Prof Madhuku Criticised For Supporting Currency Reforms

4 years agoSat, 29 Jun 2019 00:00:13 GMT
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Prof Madhuku Criticised For Supporting Currency Reforms

National Constitutional Assembly (NCA) leader and University of Zimbabwe lecturer, Professor Lovemore Madhuku was yesterday criticized by angry Zimbabweans for supporting government’s recently enacted Statutory Instrument 142 of 2019 which outlawed multi-currency regime.

Madhuku argued that Zimbabwe was better with its own currency than using the United States dollars whose supply has over the years dwindled. He tweeted:

I believe that the country will be better off with its own currency than without. The issue of whether the current government has capacity to manage our currency is a wholly different matter over which reasonable people may disagree.

However, Zimbabweans argued that the introduction of the new currency shows a lack of proper reasoning since no fundamentals to sustain it were in place. One Twitter user @IshmaelMaz in response to Professor Madhuku’s post said:

Professor, if the reasons for the abandonment of our own currency in 2009 are not corrected, then no miracle will save this new sovereign currency. That is the basic reasoning that should have been applied. This is all child political play. It will not work. #ActiononReforms.

Another Twitter, user @epoh40 dismissed Professor Madhuku’s comments as unreasonable. @epoh40 tweeted:

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“Any reasonable Zimbabwean will learn from history. Any reasonable Zimbabwean will judge a matter objectively. Any reasonable Zimbabwean will know fundamentals are not in place. Any reasonable Zimbabwean will know it will not work, simple.

The introduction of the local currency induced mixed feelings. Others hail the government whilst some, still haunted by 2008 hyperinflation are projecting nightmares.

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