“Until Zimbabwe addresses the root causes of its economic woes – political instability and a lack of growth – the cycle of devaluation will continue.” Picture: Reserve Bank of Zimbabwe
It’s really sad when your own nation no longer trusts its own currency. How can you stabilise the economy with so many names given to the currency by these bogus RBZ governors and their failed handlers from Bearer Cheque, Bond Note, RTGS, Zimbabwe Dollar Local (ZWL) and ZiG.
When will people accepted they are pathological failures. President Mnangagwa failed to resuscitate the Zimbabwean economy and end rampant corruption. He should let another person take over and govern Zimbabwe.
The president of Zimbabwe should not act as if he is blind to the apparent extensive damage the country is going through. His inabilities and incapacities are crystal clear, meaning he should be dumped into the history dustbin.
When a government uses the police to protect a currency, it means it has already lost the confidence and trust battle with the citizens. Economics doesn’t need buttonstick to stabilise a currency; it only needs the policy fundamentals to be right.
The very act of announcing this measure of using police to protect a currency actually weakens the currency. Instead of relying on police enforcement, the government should focus on addressing the underlying economic issues to stabilise the currency.
* Newton Tapiwa Mpofu, United Kingdom.
* The views expressed here are not necessarily those of Independent Media.
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