MDC president Nelson Chamisa has criticised the re-introduction of the Zimbabwean Dollar by the government of Zimbabwe, saying that such a move is ill-advised and confidence-draining.
On Monday, the government issued Statutory Instrument 142 of 2019 which effectively ended the multi-currency regime while restoring a mono-currency one.
Writing on microblogging site Twitter, Chamisa identified what ought to be in place for the currency to be fully sustainable. He wrote:
GUERRILLA ECONOMICS and ambush currency measures are ill-advised, destructive and confidence-draining. Zim-dollarization requires that macroeconomic fundamentals, public confidence, trust, fiscal discipline, political stability and legitimacy be in place for it to be fully sustainable.
Below is Chamisa’s tweet:
GUERRILLA ECONOMICS & ambush currency measures are ill-advised, destructive & confidence-draining. Zim-dollarization requires that macroeconomic fundamentals,public confidence, trust,fiscal discipline, political stability and legitimacy be in place for it to be fully sustainable.
— nelson chamisa🇿🇼 (@nelsonchamisa) June 24, 2019