ActionAid Zimbabwe Criticizes Introduction of Zimbabwe Gold Currency
6 April 2024
Spread the love

By A Correspondent| ActionAid Zimbabwe has condemned the Reserve Bank of Zimbabwe (RBZ) Governor’s move to introduce the new Structured Currency, Zimbabwe Gold (ZiG).

In a statement ActionAid Zimbabwe said the solution to Zimbabwe’s economic challenges lies in addressing confidence issues not currency.

“While the initiative may be presented as a solution to Zimbabwe’s economic challenges, we believe that what Zimbabweans truly need is the restoration of confidence in the economy, not the introduction of yet another currency,” ActionAid Zimbabwe said.

The organisation added that the country’s history was riddled with currency instability problems, with various currencies introduced over the years, each accompanied by promises of economic recovery but argued that the solutions often fell short, leaving Zimbabweans vulnerable to economic uncertainty and hardship.

“The introduction of the ZiG currency risks repeating the mistakes of the past,” the spokesperson warned. “Instead of addressing the root causes of our economic challenges, it offers a temporary fix that fails to inspire confidence among Zimbabweans.”

The organization called on the government to prioritize comprehensive reforms addressing issues such as corruption, mismanagement, and lack of transparency. They emphasized the need for an environment conducive to investment, accountability, and good governance.

“We urge policymakers to engage in meaningful dialogue with stakeholders from all sectors of society to develop sustainable solutions that will benefit the entire nation,” the organisation added.

ActionAid Zimbabwe reaffirmed its commitment to advocating for the rights and interests of the most vulnerable members of Zimbabwean society.

ActionAid Zimbabwe reiterated that what Zimbabweans are yearning for is a fundamental shift towards a more inclusive and equitable economy, further emphasizing that only through genuine reform and commitment to the well-being of all citizens can Zimbabwe truly build a prosperous future.