Government insists that the ban on the use of multiple currencies will remain in place as it seeks to lower the cost of doing business and get the economy functioning again after decades of uncompetitive pricing due to expensive currencies.

Foreign Affairs and International Trade Minister Dr Sibusiso Moyo said this in an interview with BBC World Service Newsday.

The news anchor, Shaimaa Khalil, sought to know if the introduction of a local currency at this stage would be sustainable.

Minister Moyo said the move has stabilised the economy.
“The whole point is for you to understand the whole roadmap from the time we introduced the US dollar and the multiple currencies that depreciated the whole productivity and lowered exports in the country,” he said.

Minister Moyo emphasized that it was important for Zimbabwe to take its fate in its own hands by promoting exports to ensure foreign currency inflows.

“It is a right of every sovereign nation to have its own currency and it is a more organised way for exporters to have access to foreign currency,” he said.State media