President Mnangagwa threatens to ban ‘US dollar’

President Emmerson Dambudzo Mnangagwa has threatened to ban foreign currencies which are legal tender in Zimbabwe.

Speaking in a video clip from a TV programme, Mnangagwa alleged that the local currency is under attack, hence it’s losing purchasing power at an alarming rate.

Mnangagwa said he would never abandon it, as it is here to stay, unlike the foreign currencies which are not here to stay.

He said while foreign currencies helped to stabilise the situation during Zimbabwe’s dire hyperinflation period in 2009, no country can develop without its own currency.

The Zimbabwean dollar has become worthless, amid calls for its dumping in favor of the stable American dollar.

However, Harare maintains that the country is not ready for full dollarisation.

Zwnews