Zimbabwe Coalition on Debt and Development (ZIMCODD) Socio-Economic Analyst Tafadzwa Chikumbu has claimed that the Reserve Bank and the government at large are not dedicated to solving the cash crisis that has been bedevilling the country for years now.
Chikumbu made the remarks while speaking during a national budget analysis programme held in Gweru recently where he said the central bank was benefitting from the status quo. Chikumbu said:
There is no motivation in the RBZ and government to make sure that there is enough cash in the banks, the reason being that the 2 percent tax is contributing 13 percent our tax revenue in Zimbabwe.
So do we really think government can encourage people to use cash yet there currently getting lots of monies through swipe?
Meanwhile, the central bank recently fed new $2 and $5 notes as well as $2 coins into the market with the view of addressing the crisis.
Since as back as 2016, the government has introduced a raft of measures which were premised at addressing the cash crises which might linger for many more years with banks issuing very limited amounts of cash per week a situation that has enhanced the parallel market in the country.