FULL THREAD: Former Finance Minister Speaks On “New Currency” Reports

Former Finance Minister, advocate Tendai Biti has said that it is crazy for the government to introduce “another currency” this year as said by RBZ governor Dr Jphn Mangudya this Tuesday.

Mangudya had said that the government will in two weeks time introduce a new currency, claims which were vehemently dismissed by the Finance Minister, Professor Mthuli Ncube who said there was no need since the government has already reintroduced the Zimbabwe dollar through Statutory Instrument 142 on June 24 this year.

The reports of the new currency, however, shocked Biti who posted on Twitter saying:

1) The illegitimate regime has gone nuts. How does a Gvt change currency three times in a year? A fresh talk of adopting the rand Fact is they can adopt any currency they want but without the right macroeconomic conditions prevailing, its total waste of time

2) Then went through the original Zim$, then they brought the bearer Chequers which they again bastardized, then they went through the US$, the bond note and the RTGS$. They can bring 100 other currencies but it won’t help. There is no confidence in them and no one trusts them

3)The thing is economics is a science of logic & planning . It’s not kick and hope nor kick and rash. Nor is it prophecy.That a country can introduce 3 currencies in a year is criminal economics. The consequences from a planning , accounting & economic view point are catastrophic

4) The currency confusion, the power shortages, inflation, the doctor’s strike and massive corruption are proven beyond doubt that Emmerson has failed. He has become a threat to the vital interests of sovereign Zimbabwe. He must step down or Constitutional process must remove him

More: Tendai Biti

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