Former Finance Minister and MDC vice president Tendai Biti said that the re-introduction of the Zimbabwe dollar to replace the multi-currency regime has failed to yield the desired results.
Speaking to the Daily News on Saturday, Biti likened the Zimbabweans’ loss of trust in the Zimbabwe dollar to a wife who has lost faith in a cheating husband. He said:
De-dollarisation has failed … All of this is the sum of total idiocy of the government while its cheerleaders continue to applaud it.
The local currency is … like a wife who catches her husband with his pants down. Trust will never be fully restored.
Businesses and ordinary people have been ravaged by their own currency twice, so it’s a question of reality … self-defence.
There is nowhere in the world where a country that involuntarily dollarised has gone back to adopt its own currency. Cuba a few weeks ago went back to the American dollar.
Zimbabwe ditched the multi-currency system in June this year after businesses had started to accelerate informal re-dollarisation.
However, the local currency has been sliding in value exponentially since its introduction, with the government demanding taxes from certain sectors in foreign currency.
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Well said Mr Biti, but unfortunately these cretins, these thieves, these clueless brainless inept stupid idiots who poport to be in charge of Zimbabwe will never ever listen to you. All they want to do is to make us subserviant to themselves and then steal every bit of foreign currency for themselves, telling us that the 25 million Zim Bond money that they have ‘drip fed’ into the system is the way to go. Fucking idiots.
The problem with Tendai Biti is he thinks he is an economist simply because he presided over United States dollars therefore he feels that ego that he did excellent job when he was a minister . Understand this when we were using US dollars there was no monetary policy it was an oiled engine anyone could have been succeeded as minister even kutora munhu anofudza mombe aingobudirira. Economics is not only saving money but its dealing with intricate forces. So Mtuli is cery cery intelligent he knows how to cure our economy its a matter of time but Biti acts like a gudo rinopfimbika mazhanje then after 5 minutes rouya richida kudta richifunga kuti aibva kunonga instant recovery . If Americans know that there is nothing likd instant recovery for an economy buttered under Mugabe That time when US dollar was used it was
at its formative stage so it was awash because ofcourse gnu but if u had continued the next 5 years the effects of liquidity was going to come. Your example about trusting a cheating husband does not make sense i kniw you enjoy using euphemism too much but Jesus said if any man is in Christ he is a new creature so ED is a new creature birn again Zanu pf. With knew thinking The problem with you guys is you are so worried that if the economy does well under ED then you be assured you have lost votes .Biti you and your cohorts hate figures so u cant see whats happening. The Zimbabwe dollars is definitely going to stabilise i live abroad and for the last 3 months the black market and bank rate have been stable not moving upwards thats a sign that policies being instituted are begining to pay dividends. Government finances are healthy. You know very well kuti when exchange rates are stable even prices will respond the same way. This 2020 will see economy being cemented then jobs will start being created savings will begin to improve then economy grows.