Reserve Bank of Zimbabwe (RBZ) Governor, John Mangudya, said that Zimbabweans should accept the partial dollarisation that is in place and stop fantasizing about the full dollarisation of the economy.
Speaking on Friday during discussions at the Chamber of Mines of Zimbabwe annual conference in Victoria Falls, which ends this Saturday, Mangudya said:
As Zimbabwe, we are on our own and we cannot go the full dollarisation route.
If you were dreaming of full dollarisation in Zimbabwe, that must stop.
Let us stop speculative attacks on our currency.
People who engage in speculative attacks on our currency are the same as witches.
Mangudya criticised Zimbabweans for their negativity over the challenges facing the country, saying all countries in the world are facing similar problems.
He said people should unite in defending the Zimbabwe dollar as the fight against inflation is not for the RBZ alone. Said Mangudya:
The power of negativity is weighing down positivity. We need to be positive. As long as I live, I am positive.
I thank the Lord for the gift of life. Why are we destroying our economy?
We want to tame inflation, but it is not an RBZ issue alone, it is not a Government issue alone, it is everyone’s task.
Let’s defend our currency, we don’t want the power of inflation to devour us.
Who are these people that are pushing up inflation either at night or in the morning?
We are still looking for them and we have suspended some companies from borrowing from banks because they were engaging in speculative borrowing.
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Thus was an opportunity for the governor to send a strong message on currency but he blew it away by joking about witches, no solid currency message to defend the Z$.