Farai Dziva|Zimbabwe’s legitimacy problem requires an urgent solution, MDC Alliance vice president Tendai Biti has said.

“Be that as it may adoption of the Rand and joining the Rand Monetary Union is the only viable mid term solution. The US$ is over valued and has appreciated more than 20 % in last two years . Zim must devalue to a stable international currency which is the Rand .

Thirdly regional integration is the future . The region needs both free trade and a monetary union,” argued Biti.

He added: ” But for Zim key issue is the discipline that will be enforced on same in its efforts to to achieve fiscal convergence with rest of the region .Loss of monetary policy control is a key step.

With the US$ now trading above 65 on the parallel market it is time the regime accepted the failure beyond any shadow of doubt of its monetary & exchange rate policies .

We have constantly argued that you can rig everything else but not the economy. An urgent reset is required.

Regime must 1) immediately dollarise through repeal of Finance Act No 2 of 2019 2) scrap export surrender requirements 3) Rivert back to cash budgeting & fiscal consolidation 4) Deal with corruption urgently particularly breaking the Sakunda/Trafigura /Command Agriculture axis.

Provide an Urgent Fiscal Plan with international backing . 6) Normalise and demobilize infrastructure of repression 7) More importantly there must be an urgent political solution.

The crisis of legitimacy needs resolution as matter of urgency . Regime must ship out to allow #NTA.”