By-Former MDC member of parliament and Zimbabwean economist Eddie Cross has defended President Emerson Mnangagwa’s economic failures.
Cross said that the nation should not panic about the inflation which has triggered the prices of essential commodities to rise.
He said the inflation is being caused by Russia’s invasion of Ukraine on 24 February this year.
ZBC quotes Cross, defending Mnangagwa:
The President must not panic. The people must not panic, but we need to be cautious and support all government reactions to such pressures which are driven by global commodity markets.
The economic fundamentals are sound; our Zimbabwe dollar should be strong, but we are destroying our dollar. The Minister of Finance should trace the markets and institute proper mechanism to deal with these monopolies. These economic woes and attack on our currency will end in 24 hours.
Cross speaks after Reserve Bank of Zimbabwe (RBZ) governor, John Pamonetsa Mangudya has said the government has a robust strategy to sustain the local currency.
The currency has been losing value against other currencies since its reintroduction in June 2019.