ZIM Gvt Threatens To Name Forex Blackmarket “Mafia”

The Government has threatened release the list of syndicates controlling the country’s lucrative parallel forex market which it accuses of proliferating inflation and skyrocketing prices, Newsday has reported.

Adressing members of the media at a post- cabinet briefing on Tuesday, Information minister Monica Mutsvangwa said government was aware of the real buyers of foreign currency on the parallel market.

“You think those young people without shoes are the ones who are behind the parallel market? It will be folly to believe that. We know that there are big people behind them. I think it is time we start to deal with that and expose who are these people,” she said.

By Tuesday, the US dollar was selling for ZWL$7,3 on the electronic money transfer platform and ZWL$5,8 for the bond notes.

This is not the first time that President Emmerson Mnangagwa’s regime has threatened to name and shame who it has termed economic saboteurs.

Last year, politicians and businesspeople who allegedly externalised over $1,3 billion during former President Robert Mugabe’s era were named, but just a few returned the money before the expiry of the set deadline.