By Tinashe Eric Muzamhindo| Let me tackle this below as a development practitioner and Policy maker in a professional way.

In any given context, the description of any economy is measured not on currency but production and exports. Currency is not our problem, it is simply a drop on our major problems. If we practise good governance, currency will stabilize on it’s own.

If you remember very well the same Minister of Finance, Prof. Muthuli Ncube told us a few months ago in 2019, that we have over 3 Billion surplus money, and I find this interesting as a Policymaker, where is the 3 Billion when we have all these currency short falls and we are failing to meet the Government obligations such as Eskom bills, clearing our external debt which has ballooned to over 12 Billion including the local debt. Not even a single update has been issued over such matters.

The same Finance Minister, we praise the Lord, he is still the same person who can account what he said a few months back. Yesterday he came to tell the whole nation that we have a major currency problem.

Do you still believe that our major problem is currency and the cabinet has gone an extra mile to set up a taskforce to deal with currency stabilization program. Really? ? This is interesting. Is currency our major problem in Zimbabwe?

Few questions can be asked to the learned Prof and former Vice President of the African Development Bank :

1.Who is printing excessive notes on the market?

2.Who controls the black market?

1. Who is in charge of receiving money from RBZ using the Interbank rate ( 1:1) and throwing all the money on the black market?
2. We have witnessed new local currency in circulation, and not even a single statement has been issued to Parliament regarding excessive printing of notes
3. Where are the profits of the results of Command Agriculture or any regulations put in place to regulate Command Agriculture and GMB funds?
4. Why is it that the Minister has never issued a statement concerning the GMB rot or saga since money exchanged hands between RBZ and Finance? Not even a single ministerial statement regarding to that effect?
5. What is our debt position? Local & External debt?
6. What is fueling inflation? Is it currency problems or it is many inconsistencies?
7. Do we need a taskforce to handpick people who are operating the black market? Or we need ZACC and Police to do their job?
8. Why doing a merry go round on fiscal policy matters yet we are seeing the problems?

As a Policy Advisor I suggest the following measures to be taken to avert a crisis within the next (6) six months and restore sanity in our economy :

1. We need a clear Policy direction of this country. All these problems are as a result of too many inconsistencies within Zanu PF Government and this has destroyed trust within the vicinity of the few remaining investors.

NB : Nyika inogadzirwa nema Policies ari clear. Hapana chitsotsi apa meaning the country can only be fixed using clear policies, there is no two ways about it.

1. We need a clear Policy coordination. Conflicting statements within the Government must be dealt with.
2. A clear National Development agenda must be tabled. We need a proper Development agenda which must build trust and confidence
3. Smart politics is key.
4. Observe Human rights obligations as a necessity to deal with our crisis.
5. We need a genuine and proper dialogue to deal with all these problems.
6. Corruption is our major crisis. We can have as many taskforce as possible, as long as people are looting in Zimbabwe, we are wasting our time. There are so many leakages in the Government and not even a single ministerial statement has been issued by Finance Minister on the following :

(a) 5.9 Billion for Command Agriculture which went missing from RBZ.

(b) 1.3 billion which went missing from the same facility ( Command Agriculture) , and not even a single cent was recovered.

(c) GMB saga where officials used their companies and proxies to issue contracts without going to a proper tender system.

1. Clear Investment law to attract Foreign Direct Investment ( FDI). We need inflows to deal with cash crisis.
2. Development of a proper partnership deal framework for all deals in all critical sectors of the economy such as mining, agriculture, tourism and infrastructure development. All minerals are being sold for a song because of improper partnership deals.
3. Privatization is key to all potential State companies. All dysfunctional state companies must be closed because they are draining the fiscus.
4. Recommend the removal of Deputy Ministers. It’s not necessary to have them.
5. We have a huge and bloated senate. We can rather remain with Parliament
6. What is the position of our local and external debt?
7. We can merge ministries which are critical and phase out those which are not necessary.
8. Let’s print money after making careful assessment of our consolidation revenue funds, increase in productivity, balance of payments, increase in exports and inflows of FDI
9. Misguided priorities. Money is not grown on trees. In any given context, the description of any economy is measured on production and the amount of imports and exports.
10. We have a huge and bloated Foreign services. We need to cut a number of foreign missions and remain with strategic ones. Eg we can have one single foreign mission catering Zambia, South Africa, Botswana and Namibia.
11. Mono currency has been rejected by the market
12. Market forces which are in existence. Failure to dollarize the economy which has long dollarized itself. There are clear market forces.
13. Why is the Minister failing to issue a ministerial statement regarding the dollarization of the economy? Is it because printing of money is bailing the Government in buying forex?
14. Debate over dollarization of the economy is critical. Government is hesitant to make a Policy statement because they were benefiting directly from excessive printing of money and inflating exchange rates on the market.
15. Lack of confidence as a result of too many inconsistencies and there is need to make critical policy reviews .
16. Institutional reforms are critical.
17. Government lacks social capital. We lack appeal. This is a major crisis we have.
18. We need a clear re-engangement plan which is inclusive. We need to stop the arrogance and work on a clear re-engagement plan.
19. How much do we owe other countries? Our nature of deals must be disclosed to the public. We have ZUPCO deal where buses are already in Zimbabwe? In exchange of what? Government deals must be disclosed to the public.

Tinashe Eric Muzamhindo – PhD Cand