HomeOpinion

Mangudya's Statement An Admission Of Failure - Coltart {Full Thread}

4 years agoMon, 24 Feb 2020 09:52:51 GMT
Share on FacebookShare on TwitterShare on LinkedIn
Mangudya's Statement An Admission Of Failure - Coltart {Full Thread}

The statement of the Governor of the RBZ contained in the Herald today demonstrates the poverty of sound leadership we have today. The policy is flawed in multiple ways: 1. The admission that RTGS fuel is half the price of US$ fuel means there is a massive unsustainable subsidy.

The Governor ignores that allowing US$ fuel is just the tip of the iceberg – the entire country is re-dollarising before our very eyes because of the abject failure of the Zim $ which was reintroduced prematurely before business confidence in the RBZ had been restored.

Enforcement of laws making RTGS/Zim $ the sole currency is now impossible. A government cannot discriminate between different sectors of the economy compelling some to use Zim $ and allowing others to trade in US$. That is a clear violation of section 68 of the Constitution.

Finally, the entire tenor of the statement undermines confidence – phrases such as “hope to conclude within 5 years, all things being equal” do not induce confidence & are also wrong. The US $ was banned overnight, so there was no 5-year policy. This is an admission of failure.

More: @DavidColtart

Latest Tecno Pop 8 - now available in Pindula.

$94, Cash on Delivery in Harare & Bulawayo.

WhatsApp: 0783 450 793

Tags

0 Comments

Leave a Comment


Generate a Whatsapp Message

Buy Phones on Credit.

More Deals
Feedback