Tinashe Sambiri|CCC vice president Hon Tendai Biti has pointed out that Zimbabwe’s monthly inflation is now pegged at 500%.

According to Hon Biti, the de-dollarization has failed dismally.

Hon Biti was the Finance Minister during the GNU era.

“In our view the de-dollarization experiment has failed.The Zim $ must be floated to remove any dollarization bottlenecks.The auction must be jettisoned ,the interest rate cut& Export Surrenders removed .There must be reform of banking sector&savings regime .In short ZANU must go.

Official October inflation sits at 269% but in reality it’s well above 500% Meanwhile US$ on the parallel market is appreciating towards $1000 &some BIG shops & products are on this rate The heavy handed measures to extract stabilization have failed .You can’t rig the economy.

Despite high inflation output & aggregate demand are contracting . In the retail sector demand has shrunk by 30 % . High Bank Charges now contributing 79% of Bank income &the 200 % base rate are pushing the economy into a recession.Regime does not care&lacks capacity for reforms,” Hon Biti argued.