Prepare to use only Zimdollar, Mnangagwa tells Zimbabweans

President Emmerson Dambudzo Mnangagwa has urged Zimbabweans to brace up for the use of a single currency, the Zimdollar.

Speaking as he officiates at the African CEOs roundtable yesterday, Mnangagwa said the transition could be painful but the country is going there.

“We must bite the bullet, whether it gives us some suffering for a period, we shall proceed to have our own currency, not a situation where the economy has a regime of currencies in use, we want a single currency & we are going there,” he said.

Meanwhile, Finance Minister Mthuli Ncube says the International Monetary Fund (IMF) is actually projecting a growth rate of 3,6% which is 0,1% higher than what he projected for 2024.

“So, 3,5% and 3,6% is a ballpark figure for our growth rate in 2024 taking into account climate change, issues around the energy sector & in other areas where we expect the growth to be slower including a downturn in commodity prices due to global economic slowdown, particularly in the case of China.

On inflation, he says: “…we expect inflation trend to continue downwards but that is actually linked exchange rate & parallel market which is driving a bit of our inflation.

“We expect that stability is largely engendered so we expect a disinflation trend to continue into 2024.”

Zwnews