Renowned world economist and Professor at John Hopkins University, Steve Hanke says President Emmerson Mnangagwa apart from being corrupt, doesn’t understand economics.
Hanke, an expert in study of troubled currencies says the Zimbabwean government should have dollarised.
“Corrupt Mnangagwa brought back the Zimbabwean dollar 2yrs ago.
“Since then, the Zim dollar has depreciated by 93% against the mighty USD.
“President Ed is not only corrupt, but, when it comes to economics, he is totally ignorant,” he says.
Meanwhile, over the Zimbabwean authorities have been trying to get around the problem without addressing the fundamentals.
At first by printing more money, but it didn’t work.
Of late the government through the central bank introduced the forex auction system however, it has been abused.
Zwnews
