Robertson: RBZ’s Broken Promises Responsible For Self-redollarisation

An economic analyst, John Robertson, said Zimbabwe’s fiscal and monetary authorities’ failure to keep promises they made in February has led to the self-redollarisation of the economy.

Robertson asserted that if the promises had been kept, the exchange rate would have stabilised at 1:6. He said:

Promises were made before February 28, 2019, from which date market forces were supposed to determine the Zimbabwe dollar exchange rate.

If these promises had been kept, the rate might have become stable at about Z$6 to the US dollar. But the promises were not kept, and the imbalance remained.

People with special privileges were also able to continue making profits by selling US dollars for more than they paid for them, and prospects of building trust were severely damaged.

In February this year Reserve Bank of Zimbabwe governor John Mangudya announced the introduction of a new currency called RTGS dollars.

The currency consisted of existing RTGS balances in bank accounts, Bond Notes cash and Bond Coins and the initial exchange rate with the US dollar was pegged at 2.5 RTGS dollars/US dollar.

More: Daily News

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9 comments on “Robertson: RBZ’s Broken Promises Responsible For Self-redollarisation

  1. What more is left to say about our clueless, brianless, inept and corrupt Finance ministry idiots. here is a whitey telling you the truth, but you guys totally refuse to listen to any white person. You blacks have effectively fucked up Zimbabwe, but it was handed to you, by the whites on a silver platter.

    1. Am not sure why you write like that but you forget that what made the Zimbabwe economy during whites is because blacks were working for you as labour paying them peanuts telling them they dont deserve to live in borrowdale because they cant mix with whites so whites were paid ten times more than blacks yet blacks did the donkey work. So blacks did not have buying power what we thought was good life under whites was not because we did not know how good it was to live in borrowdale we thought Highfield was so good because thats all we knew. So u can imagine now that we have discovered good life but the cake economy was designed for white people only to eat pudding nice beef nice rice we were eating dried leaves with peanut butter. U had enough money to buy cars going on holiday while you were saying dont go to first street dont use same toilets as us. So how were we going to learn this when u used a gun to oppress us dogs so know what you are saying Zimbabwe is going to be good not so far away

    2. Robertson s economics is all about to criticize, he will wait and criticize. This economist never contributes anything positive. He is the kind of wait and see economist, with no solution whatsoever, but to criticize. You cannot compare him with Eddie Cross, he is participating and he is in the thick of things, Eddie Cross is a hard worker and is positive . Robertson like all the MDC and it’s people belong to the past. The past is a dead Rhodesia, they are caught up it time warp. They are not progressive. They think the old order is going to come back. Unfortunately that is not going to happen, our economy and the rest of the so called fundamentals have changed. Any economist worthy his salt must work within those new fundamentals . Critising is very easy. When a child in school fails ,parents are quick to say a lot of things, as if they themselves excelled in every subject. That is the type of economist you have in Robertson.Its a waste of time to be taught by him.

    1. He is also clueless. It’s all about him becoming President.

      My brother, don’t place your hopes on that loud mouth. Mudzuri would have made a better leader.

  2. Call me when Zim comes right, until then I will be in a proper economy, paying my taxes and excerising my democratic rights to vote for the government who works for us and not the other way round. Is it not time for you racists to get over your hatred of the white man and start concentrating on getting the white man’s electricity working again

  3. The white man should just shut it .What Zanu pf is doing to us is exactly what u used to do to us . Back then it was the whites who were previledged few while the blackman would suffer . We were not even allowed in these fancy neighborhood so l would choose this goverment anyday of the week if am asked to choose between the two

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