Categories: Zim Latest

Zimbabwe to launch new currency this week…Ex-Finance Minister

Zimbabwe social media activist Acie Lumumba whose real name is William Mutumanje has confirmed former Finance Minister Tendai Biti’s statements that government is set to introduce a new currency soon.

Said Lumumba:

I can confirm its true! New local currency on the way, there is a condition of securing reserves in place but I can confirm to you. It’s coming. Prepare yourself, don’t panic. At best they will delay, most likely not. Let’s wait for official comms.

This comes after former Minister of Finance and opposition politician Tendai Biti revealed that the government will introduce a new Zimbabwe currency this week.

It was revealed last month that the new currency was printed last year and is already in the vaults of the Reserve Bank of Zimbabwe waiting to be introduced this month.

Writing on social media Biti said,

The regime will this week introduce a new Zimbabwe currency not backed by any #reserves & without the context of structural reforms which a prerequisite of currency reform .That move is pure undiluted #insanity . An unbanked currency is just the #bond note by another name.

Considering the #harm and #damage inflicted on this economy by its Central Bank over the years to now , the question to be posed is , does Zimbabwe really need a Central Bank ?. In my submission, it can and will do without one .

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