"Financial Policies OF These Twin Devils Have Failed Elsewhere," - OPINION

Nehanda Radio columnist, Ken Mufuka has claimed that the financial policies which have been implemented by both Finance Minister, Professor Mthuli Ncube and the Governor of the Reserve Bank of Zimbabwe, Dr John Mangudya have been tried elsewhere and have failed.

Mufuka added that the country needs to do away with the policies if it needs to revive the economy which is currently in a sorry state. Mufuka added:

The issue before us is that the ship of state, in which we are sailing, also carries two brothers, Jonah and his sibling (Ncube and Mangudya). Unless their policies are abandoned, the winds from the twin devils, the World Bank and the International Monetary Fund will sink us.

There is not a single country where the policies of these twin devils have been followed and met with success.

The duo’s financial reforms are characterised by the introduction of bond notes, introduction of austerity measures including the unpopular 2% transactional tax, and the introduction of Statutory Instrument (SI) 142 of 2019 which outlawed the multi-currency regime at the same time reintroducing the Zimbabwe dollar.

The economy has drastically deteriorated over the past 24 months but Ncube and Mangudya are adamant that their policies will eventually transform the economy.

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