Ncube criticised for ruling out making US$ sole currency

Renowned world economist and John Hopkins University Professor Steve Hanke has criticised Finance Minister Mthuli Ncube for ruling out idea of making US dollar, Zimbabwe’s sole currency.

Ncube recently told captains of industry that such an idea would be suicidal.

However, Hanke says with inflation at 81.51% by his measure, the Zim dollar is suicidal and not the green buck.

“Mthuli Ncube, Zimbabwe’s finance minister, has announced that he has no plans to make the US dollar the sole currency & called the idea suicidal.

“With inflation at 81.51%/yr by my measure, Zim’s dollar is suicidal,” he says.

The renowned economist adds that Ncube is incompetent & delusional.

Meanwhile, Hanke has warned Zimbabweans to take inflation data figures given by the Zimbabwean authorities with a pinch of salt.

“Zimbabwe’s central bank reports inflation in Zim is 54.5%/yr. WRONG. I am the ONLY source for accurate inflation measurements in Zim. I measure inflation at 85.51%/yr.

“Beware of official data coming from Zimbabwe,” said Hanke recently.

Zwnews