Farai Dziva|In a statement at the weekend the MDC slammed Emmerson Mnangagwa’s fake attempt to demonetize the RTGS Dollar.

See the statement below:

Mnangagwa currency obsession misplaced

The MDC notes with concern the failure by the Mnangagwa’s administration to realise that their monetary approach is compounding the economic crisis.

Since the introduction of the bond notes, the financial sector has been distorted. These distortions created a three tier exchange and pricing system.

Good money was displaced by bad money, an elementary prediction any government ought to have envisaged.

Fast forward to Mnangagwa’s time, the bond note still exists, it now has several manifestations with cosmetic name changes.

A fake attempt to demonetise the bond note was made through a messy monetary policy early this year.

Further Mnangagwa usurped primary law-making powers of the legislature and gazetted SI33 of 2019 which in essence introduced a currency but left loopholes for currency patronage by political elites.

The State has been reduced to an arena of personal aggrandizement by a bunch of scoundrels who are enriching themselves and lining the pockets of their friends, in the process they have also commodified the US dollar.

A surrogate currency therefore exists for purposes of fishing out hard currency for the elites and the oligarchs.

Inflation is blowing, fuel shortages are unabatated and electricity blackouts are now the order of the day.
The masses are suffering due to the terrible decisions.

It is therefore shocking to have Mnangagwa intending to introduce a new currency making such an announcement 81 days after gazzeting SI33/19 whose balance sheet is there to see.

Name changes of currency will not solve the problems.