zwnews.com Political Reporter
Elton Mangoma’s Renewal Democratics of Zimbabwe party (RDZ) has condemned the continued cash crisis in the country.
In a statement issued to the press today, the party said the failure by the government of Zimbabwe to curb corruption and promote transparency and accountability will see the disappearance of the few remaining US dollars and available bond notes. The long queues at the banks with citizens spending hours waiting for a paltry $30 is testimony that the Zimbabwean government has failed dismally on its mandate
“It is wishful thinking for Zimbabweans to think that the current cash crisis will go away. Contrary to this, the crisis is set to worsen to unprecedented levels until the Zimbabwean government addresses the country’s economic fundamentals.
It is sad that we have senior citizens, some of whom show visible signs of fatigue and distress that are being forced to commute daily to the banks, only to return to their homes empty handed.
Besides the rhetoric that the country uses multiple currencies, the reality on the ground remains that the country’s major currency is the US dollar while the Bond (whether it is a currency or not) is slowly but surely losing its value daily.” read the statement.
The disappearance of the US dollar has had adverse effects on the transacting public. The government is failing to deal with corruption and its hand is clearly visible as there is selective application of the law. This has seen the emergence of cross rates and cash barons reappearing on the streets, a scenario which has the potential to result in an even bigger crisis which is a replica of the 2008 era.
Later last year the government of Zimbabwe introduced bonds as a way to curb cash shortages in the country but on the contrary the situation even worsened before the first quarter of the year with maximum daily bank withdrawal reduced from $500 and $100 to $200 and $30 respectively. Prices of goods and services are sky rocketing with three prices being charged for the same item depending on how one is making the payment. Those using the US Dollars are charged the correct price, while those paying using bond notes pay a much higher figure despite the government indicating that the two currencies have equal value.
RDZ rapped the Mugabe and his party for forgetting the citizen needs, “Zimbabwe needs leaders with the people at heart, not a bunch of ministers who fundraise and donate expensive watches, pens or massage chairs to the Zanu Pf President, Robert Mugabe while its citizens are struggling to withdraw their hard earned money. Zimbabweans cannot be held at ransom in exchange for bootlicking initiatives meant at ensuring that selfish politicians remain at the helm of power.’