The Reserve Bank of Zimbabwe (RBZ) has released figures on the latest foreign currency interbank rates, as at 11 September 2024.
Apparently, the RBZ figures comes at the time the local currency is falling drastically on the black market.
Meanwhile, prominent economic analyst Professor Gift Mugano says the local currency, Zimbabwe Gold (ZiG) is in intensive care unit, gasping for oxygen.
“Yours Truly outlined what the GOZ must do to guarantee the success of ZiG but was svasvangwad.
“Resultantly, Yours truly told the GOZ that in 6 ZiG will start its journey towards the graveyard of previous currencies.
“ZiG is in intensive care unit. It’s surrounded by doctors from @ReserveBankZIM & @ZimTreasury who are giving it wrong dosages! All signs shows that it will not make it.
“Lessons: propaganda & kusvasvangana don’t resolve economic crisis but think tanking and inclusive policy making does,” he says.
Mugano maintains that without addressing the economic fundamentals, ZiG will suffer same fate as other monies before it.
“Folks @HeraldZimbabwe if we don’t address deep rooted structural challenges centred around drought of production, weak institutions and drought of confidence & trust, ZiG is the one which will collapse as we are already witnessing,” he adds.
Zwnews
