Economist and former MDC official Mr Eddie Cross says Zimbabwe’s economic fundamentals are now sound and there is no need for speculators to continue with their wayward behaviour on the foreign currency parallel market which is affecting the poor.

In an interview with state media on Wednesday, Cross who was recently awarded a multi million dollar deal at the defunct Ziscosteel by government, urged the Government to take stern measures to contain the forex parallel market.

Mr Cross said if macro-economic fundamentals were constant, as the situation on the ground shows, the rates should not exceed RTGS$4 to US$1.

“The currency speculators are manipulating the exchange rate and are using the opportunity created by these activities to make millions at the expense of all Zimbabweans.

“There is no justification for the current open market exchange rates. The economic fundamentals here are now sound and in my view rates should not be above 4 to 1.”

There have been loud rumblings from the public against deep-pocketed currency manipulators some of whom are reported to be senior Reserve Bank officials and government officials.

Most people are now unable to access basic commodities because their buying power has been eroded.

Mr Cross urged Government to intervene and rescue the public from currency speculators.

“Government has to take action to eliminate this activity and corrective action could correct matters in a few days,” he said.