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monetary statement a breach of trust and confidence in the political
Elton Mangona, MDC Secretary for Economic Affairs, Movement for
Democratic Change (MDC)
RBZ governor, Gideon Gono, yesterday announced a monetary
policy statement which violates the ground rules of normal economics
and casts further doubt on Zanu PF's sincerity to comply with the
Political Agreement and the SADC
Firstly, Gono has no
locus standi to act as RBZ governor as his reappointment is still
contentious. The SADC summit conceded that his reappointment is
subject to fresh negotiations.
The logical position
would have been for both the national budget and the monetary statement
to be deferred to allow for the consummation of the inclusive government.
Secondly, the decision
to lop off 12 zeroes is not a panacea to the economic ills afflicting
the country. The real zeroes that need to be lopped off are the
charlatans and corrupt barons in Zanu PF who are milking the country.
The new measures that
give unbridled leeway to gold and diamond traders will create serious
leakages on precious minerals that will allow the big sharks, who
are mainly found in Zanu PF, to fleece the country.
Thirdly, the decision
to license rural shop owners is at variance with the reality of
the lack of adequate stocks in most rural shops. For a rural shop
owner with very few items on his shelves to afford United States
dollars in licence fees is an extortionate measure, to all intents
It will be a casino economy
where even vendors and road-side dealers are all required to procure
licences of US$10 from the RBZ to engage in mundane economic activities
that are of no benefit to the national economy.
Furthermore, there is
too much rhetoric on the part of the RBZ when it comes to its commitment
to deal with corruption.
Only last week, the government
threatened to name, shame and prosecute all ministers and MPs who
looted the RBZ-sponsored farm input scheme but suddenly there is
silence of the grave on the issue.
The MDC believes that
a new family of local currency notes is not the solution.
Workers including civil
servants should also be paid their salaries in real money not to
use the voucher system.
The real solution is
a family of political formations working towards one purpose of
addressing the problems facing the people of Zimbabwe. We must stop
as a nation the habit of addressing symptoms and not the real disease
affecting our economy.
Our economy needs open
heart surgery and not painkillers. We need to bite the bullet. Only
a political solution will address the challenges facing the country.
Gono cannot make fundamental
policy decisions outside the framework of the inclusive government.
He cannot claim to be restructuring the central bank when his own
tenure is a subject of serious political differences.
His tenure has seen the
RBZ being turned into Father Christmas; doling out largesse to senior
Zanu PF officials while quasi-fiscal activities have been used to
bribe the populace to vote for Zanu PF.
Under Gono's tenure,
the RBZ became a Zanu PF private bank through which they were able
to sponsor terror campaigns against the innocent people of Zimbabwe.
A solution will be found
only in Zimbabwe when Zanu PF becomes sincere on the issue of the
formation of an inclusive government in line with the resolutions
Zanu PF should stop dithering
on outstanding issues so that we clear the way for the formation
of an inclusive government which should deal with the political
and economic crisis.
We are only the solution
to our problems.
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