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Cash
withdrawal limit and dolarisation of the economy
Zimbabwe
Congress of Trade Unions (ZCTU)
November 05, 2008
ZCTU's
response to the cash withdrawal limit
The Zimbabwe Congress
of Trade Unions (ZCTU) has received with disgust the news that the
Reserve Bank of Zimbabwe (RBZ) has decided to review cash withdrawal
limit from $50 000 to $500 000 despite calls from labour, including
different sectors, exhorting the RBZ to remove the cap on cash withdrawals.
The ZCTU wrote letters
on 22 July, 4 September, 8 September, 22 September 2008 and even
met a reserve bank of Zimbabwe official, a Mr Nyarota on 19 September
2008 to express its concerns that the withdrawal limits were below
what an ordinary family requires for daily expenditure.
It appears everything
came to naught.
This therefore means
that the RBZ is not only taking workers for granted, but also not
taking workers' concerns seriously. It appears the RBZ is
enjoying seeing workers queuing for their hard earned cash.
As some might
be aware, The ZCTU General Council met on Saturday 20, September
2008 and gave the Reserve Bank of Zimbabwe (RBZ) a seven-day ultimatum
to address the deepening cash crisis affecting the generality of
Zimbabwean workers. However, following moves by the RBZ to resolve
the issue, the General Council noted the response by the Governor
of the RBZ and decided to shelve the Mass Action that was penciled
for 1st of October 2008 to test the sincerity of the RBZ.
It appears the RBZ took
workers for fools.
We are therefore demanding
that the RBZ remove the cap on cash withdrawal with immediate effect
and failure to do so action is in the offing. This time there is
no going back.
Dolarisation
of the economy
The ZCTU is perturbed
by the current wave of dolarisation or Americanisation of the Zimbabwean
economy by the authorities at a time when most workers in Zimbabwe
are earning their wages in Zimbabwean dollars.
We all remember that
in 1979, the then Prime Minister of Zimbabwe Rhodesia, Bishop Abel
Muzorewa was castigated left right and center for naming this country
Zimbabwe Rhodesia, but 29 years later the country has been named,
in a subtle way, Zimbabwe-America. This is because all operations
are now based on American dollars despite the racist rhetoric from
the authorities that appear to be anti-American.
So who
is fooling who?
How do our leaders feel
moving around with notes bearing the head of George Washington despite
their vilification of whites and colonialism? Is this not another
form of colonialism? It is so embarrassing and shameful that they
no longer want to see the Zimbabwean dollar.
If they do not want to
use the Zimbabwean dollar, why can they not use currencies from
other African States like the Rand, the Kwacha, the Pula and even
the Meticas?
The ZCTU says no to dolarisation
and the extension of America into Zimbabwe. If they want the use
of the American dollar in all payments to continue, then the ZCTU
is demanding that all workers be paid in American dollars, since
it seems we are now part of America, despite the veiled denials
by our politicians, particularly President Robert Mugabe.
Visit the ZCTU
fact sheet
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