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"NADA, NADA, NADA" President Mnangagwa Speaks On Prospects Of Redollarising

4 years agoFri, 13 Dec 2019 20:01:21 GMT
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"NADA, NADA, NADA" President Mnangagwa Speaks On Prospects Of Redollarising

President Emmerson Mnangagwa has this Friday revealed that chances of Zimbabwe redollarising are zero adding that the country is satisfied with the local currency.

He said that it was impossible and not ideal for a country to be without its own currency.

Mnangagwa was speaking at the ZANU PF Annual People’s Conference which is scheduled to run from Thursday (yesterday) to this Sunday, 15 December at Goromonzi High School in Mashonaland East.

Zimbabwe outlawed the use of all foreign currencies in June through Statutory Instrument 142, 2019 which also reintroduced the Zimbabwe dollar that had been ditched a decade ago after a record high hyper inflation.

His remarks come after the government has in a recent gazette announced a new bill which criminalises efforts to redollarise the economy.

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The president speaks amidst calls by economists including professor Steve Hanke for the nation to redollarise as a way to curb the soaring inflation.

 

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