Source: Brace for Zimdollar return: Mutsvangwa – DailyNews Live
Staff Writer 8 December 2017
HARARE – President Emmerson Mnangagwa’s government will soon reintroduce
the Zimbabwean dollar which will be anchored by international goodwill,
Special Advisor to the President Chris Mutsvangwa has said.
The revelation comes as economists have called for the bond notes to be
demonetised in favour of hard currency borrowed abroad.
Government abandoned the Zimbabwe dollar in 2009 after the currency had
been rendered worthless by hyperinflation.
Zimbabwe then introduced bond notes in November last year, which have
since vanished from circulation.
“One thing for certain which touched the president’s heart was the issue
of re-introducing our own currency; that matter has generated a lot of
interest amongst investors from South Africa, China even in the European
Union who want to see this country progressing,” Mutsvangwa said on
Tuesday during a meet-the-people rally in Manicaland.
“He has the goodwill to do it. That goodwill will give confidence for the
re-introduction of our local currency. We will then start to rebuild our
country with a stable currency so that we develop as people.”
COMMENTS
The sooner this happens the better. Zim must have it’s own successful currency to engender faith in the country as a whole.
Brace yourself for a financial rooting up the arse if Zanu is going to control the Printing Press. Gideon Gonzo did his bit of rooting and then they gave the new RBZ a new set of rooting rules with Bonkers Bond Notes.
To introduce a currency you have to have a basis to do it upon. An economy would be a starter. Getting all the corrupt politicians to return the billions they stole another one.
Oops they are still in positions of power. Non starter!
Here we go again, I wonder if they can beat the Germans at the highest inflation rate as last time we only made it to second place
One arsehole replaces another!
Many don’t see it but the attitude we have towards reform policies determine the outcome of these reforms. Rather than moping about and ranting about a second 2008 why don’t you at least be optimistic that this time we will achieve financial and economic stability? By deciding to craft a national currency don’t you think the policy makers have considered the outcome? Of course they have looked at the situation and are looking at the alternatives that we have as a country and having our own currency is one of the strong points. Lets not always be pessimistic towards these policies if we have any hope of reviving the country’s economy. A bit of optimism can help. FOOD4THOUGHT
How many people in Zanu have been “removed?” Perhaps 12? So, the Government is probably 99% the same as before? So, if this New Zanu World Order is so different – why did they not effect some change about 35 years ago instead of sending the Fifth Brigade into Matabeleland? Optimism yes! But blind naivety no!
Brace youself is the right phrase. Please let us get on the right road first, get rid of the bond notes, get the country liquid on an international basis before you even try that so that our money is internationally accepted from the gitgo. Please!!
Hi Learned Zimbabweans. I am not an economist but I have been reading a bit about the Common Monetary Union that brings together SA, Swaziland, Namibia and Lesoto. it is also the Southern African Customs Union which then includes Botswana. I was trying to understand the pros and corns of Zimbabwe joining this union. Can anyone who is well versed in these issues give us in summary what this would mean for us considering as SADC we are already involved in a very slow moving project to have a common currency etc. What is the most foward looking and strategic move for Zm from a monitory and fiscal policy stand point and from the stand point of capital mobility in the region which comes with these choices. Please don’t give us the simplistic mantra of fanatical patriotism that Mugabe had and Mangudya was spewing. Just looking for a reasoned discussion on why join or not join (assuming we meet conditions of course)
How can you have your own currency? you are bankrupt! A currency is only worth what exists in collateral – so get the finances up and running, build up some confidence, get some money making business going, show what you are doing etc. Then think about it.
This is how the Zim$ failed and the Bond Notes where toilet paper, because there was nothing backing it up and between the ears of the perpetrators. You cannot invent wealth, this is so fudemental, every body must know it. – ‘flick’ of this thread is obviously an exception.
Are the 2008-2009 ZMD bond notes in position for revaluing or are only the new bond notes the only currency to be viable?