President Emmerson Mnangagwa has mocked the RTGS dollar as another surrogate currency which is nothing when compared to real United States dollars.
Mnangagwa said this yesterday in Ngangu, Chimanimani while thanking United States President Donald Trump for availing US$2, 5 million to Zimbabwe to assist survivors of the cyclone disaster.
“Do you know Trump? President from which country?…America. Eheeee. He imposed sanctions on us, yesterday he sent his ambassador with US$2, 5 million eheeeeeee…US$2, 5 million from their country! Not maRTGS aaaah.No, I mean the real hard currency from their country (chaiyo chaiyo),” Mnangagwa said sarcastically, drawing laughter from the crowd.
RTGS (Real Time Gross Settlement) is originally an electronic money transfer system which was introduced by authorities following acute cash shortages in the country.
When central bank governor John Mangudya delivered his monetary policy statement recently, he classified it, together with bond notes, as RTGS.
Zimbabweans businesses are resentful of the currency whose value keeps fluctuating.