Youths representing a cross section of political parties and civil society organisations, today, held a crucial emergency meeting with the Reserve Bank Governor, John Mangudya, in which they argued and warned that the current economic instability, if allowed to continue unabated can degenerate into political instability.
“Instability is, however, contrary to views, values and dreams of a Zimbabwean society we envision. As such, we implore the Governor to critically reflect and engage on the 10 discussion points raised above,” warned the youths.
Leading human rights activist and academic, Maureen Kademaunga, in an interview with ZimEye.com said, “Young people aged 35 and under make up 70% of the country’s population. The measure that has been proposed by the Reserve Bank has particularly severe implications on the livelihood of young people.”
In the meeting the youths also engaged the Governor on bond notes, economic policy and macro-economic and political stability.
The youths warned Mangudya, on the public attitude towards bond notes which is negative as evidenced by massive withdrawals at banks, which they posit raises a number of questions on the feasibility of the new policy.
The more than 20 represented youths organisations met the Governor against a background of a serious cash crisis for which the government has been slow to give answers to an increasingly restive and desperate population.
In order to avert a national crisis the youths presented a briefing paper to the Governor titled : ‘Youth Perspectives on Bond Notes, Economic Policy, and Macro-economic and political Stability.’
Continued Kademaunga in the interview with ZimEye.com ; “We foresee an economic collapse brought about by this measure; this may seem abstract and distant to some, but it cannot be more immediate and pressing for the young people whose voice we represent.”
In the briefing paper the youths state ; “It is common knowledge that our country imports the majority of goods we use for consumption and manufacturing purposes. Such imports are paid through the banking system. However, with little confidence in the banking system, there is a possibility of the country failing to pay its import bill.”
Questions raised by youths include the country’s ability to negotiate its way in such circumstances. “Confidence in the banking system is fundamental in the country’s ability to pay for its imports,” they warned.
Cash Crisis – Youths Warn Governor Mangudya Of Political Instability
15 June 2016