Finance Minister Mthuli Ncube
Renowned ZANU PF online foot-soldier (Murakashi) Kudzai Mutisi says President Emmerson Dambudzo Mnangagwa should fire Reserve Bank of Zimbabwe and Ministry of Finance officials for not their jobs properly.
“We have policymakers who lack the courage and will to do what’s right… Monetary policy is an old & established science, no need for experiments or reinventing the wheel…
“President Emmerson Dambudzo Mnangagwa should replace the folks at Ministry of Finance and Reserve Bank of Zimbabwe, they have no desire to do what’s right,” he says.
He was commenting on a newspaper story that the local currency Zimbabwe Gold (GiG) was losing its grip.
According to the story by Newsday, prices of basic commodities have risen sharply as the recently launched Zimbabwe Gold (ZiG now ZWG) currency stutters in a United States dollar-dominated market, with shops now preferring to charge their goods exclusively in foreign currency.
The Reserve Bank of Zimbabwe (RBZ) launched the ZWG trading at 13,56 to the US dollar on April 5 this year before it shed 0,8% in May.
While monetary authorities have painted a rosy picture on the new currency, the shortages of the ZWG notes have since forced retailers to charge their prices in US dollars.
According to a snap survey conducted by the publication in Harare, retailers, who have been displayingprices in both the ZWG and US dollars, have since started charging exclusively in the greenback.
The ZWG shortage has also forced the general public to resort to the US dollar as a store of value and paying for goods and services in the foreign currency.
The survey revealed a steady rise of prices especially in the local currency, which has since been pegged at US$1:ZWG14,8.
Zwnews
