ZiG ANOTHER BOND NOTE DOOMED TO FAIL
Last week we had reports that the police were arresting money changers in the streets of Harare.
By Leonard Koni | Deputy President Constantino Chiwenga has also joined the band of those people threatening the money changers and to shut down supermarkets if they are suspected of sabotaging the ZiG currency. This is so barbaric and militant.
Ironically our professional police force which has so far arrested more than eighty money changers accusing them of fuelling inflation and weakening the new currency have failed to arrest those involved in corruption.
Surprisingly there are economic saboteurs who are causing economic haemorrhage in the country but just because they are politically connected no arrest is effected. Not even one person from those who were implicated in the Gold Mafia documentary produced by Al Jazeera last year was questioned. It just died a silent death.
If ZiG is strong currency why do we need to waste our resources through deploying the police to a currency which is powerful and backed by gold? How do we expect people being paid in ZiG to get forex and buy other requirements like fuel, passports, pay for number plates and customs duty?Why are people being arrested?
This currency has become a pale shadow of the Zimbabwe Republic Police. How on earth can you arrest a citizen for changing forex in a country where fuel, application for a passport and customs duty is supposed to be paid in foreign currency?
This command economy from this new republic will not work and has proved to be a failure. For John Mushayavanhu to tell the people that he got the advice of introducing the ZiG currency from the World Bank is just a fat lie. This is a statement coming from someone who just want to escape responsibility as the currency is facing resistance on the market.
Just like his predecessor Governor John Mushayavanhu has started the blame game before the start of the real coarse of the menu.
You introduce a new currency as a government and then fail to trust your own product and you expect the people to trust it by forcing them to accept it.
Arresting money changers will not solve the problem. The reality is that the people have lost faith in the regime. You can’t stitch an anus to cure diarrhea.
Such is the nature of an incompetent government which has ran out of ideas. Their businesses do not accept ZiG but they want people to accept it.
Punishing people for their own economic policies is the worst thing to do. This is so ridiculous and self defeating.
The Reserve Bank of Zimbabwe must address this issue and consult other stakeholders to find out why people are shunning the ZiG currency. What is exactly backing this ZiG when we are told that some gold vaults are located somewhere at a secret place.
Zimbabwe needs a leadership which understands the current economic and political dynamics through engaging stakeholders. This kind of applying military gymnastics into the economic spheres will not work.
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