Zimbabwe’s economy is now fully dollarised, senior gvt official

President Emmerson Dambudzo Mnangagwa’s spokesperson George Charamba says the country’s economy is now fully dollarised.

Charamba says it doesn’t make sense for businesses to claim that they are hiking prices because they are sourcing forex from the black market.

“DOES IT MAKE SENSE? That businesses tell us they are hiking prices because they are sourcing foreign currency in the black market?

“Meanwhile 80% of all transactions in Zimbabwe are in FOREIGN CURRENCY, making this ECONOMY virtually fully dollarised.

“How do you serve us a yarn yekuti you are sourcing forex in black market when 80% of your sales are in forex?

“And who is selling forex in the so-called black market anyway, and in huge figures to attract corporates? Tasvinura!!!!!” He queried.

Apparently, the Zimbabwean dollar has been loosing its purchasing power amid calls by economic analysts that the country should dollarise.

The government through the Ministry of Finance had made it clear that it will not dump local currency in favor of the US dollar.

Meanwhile, renowned world economic analyst Steve Hanke has been urging the government of Zimbabwe to fully dollarise.

According to him, the Zimdollar is on the deathbed and hard to resuscitate.

Zwnews