Source: Mnangagwa speaks on cash crisis – DailyNews Live
Blessings Mashaya 31 March 2017
HARARE – Vice President Emmerson Mnangagwa has said banks should dispense
money to depositors in time, as government struggles to curb a cash crunch
that has forced people to spend hours on end at banks queuing for money.
Responding a question in Parliament on Wednesday by Mufakose MDC MP
Paurina Mpariwa on what government was doing to stop the waste of
productive time by workers as they wait in queues hours on end to access
their cash, Mnangagwa asked the opposition legislator to put the question
in writing so that Finance minister Patrick Chinamasa would go and check
the details in consultation with the Reserve Bank governor John Mangudya
“and the question can then be answered”.
“The honourable member is a former minister and she is aware that you
cannot tell that Treasury has so much funds or nothing.
“It is also government policy that when people have worked, they should be
paid. When they go to the banks to get their salaries, they should get
their money on time.
“When there is no money, we then need to question the banks and the
Reserve Bank of Zimbabwe (RBZ). That is why I have asked the member to
put the question in writing,” Mnangagwa said.
In a supplementary question, Warren Park MDC MP Elias Mudzuri asked the VP
what plans government has in re-introducing the US dollars.
Mnangagwa said if an individual has an account with US dollars or rands
and if that person wants to go out of the country – “the policy which is
in existence is that
when you are travelling outside the country, the amount which you can
carry is stipulated, especially if it is an amount which is in the bank”.
“We also look at what it is that you want to buy outside the country. That
does not depend on the amount you have but on the amount which is in the
Treasury to facilitate the importation of goods,” he said.
” . . . there a limit that is set aside that if you are going outside the
country and you want cash, the amount should be about $1 000, but I am not
very sure about the exact amount.
“All I know is that there is a set limit which one can withdraw for going
outside the country.
“If you go to a bank and tell them that you want bond notes, they are
available in the banks.
“I am talking of the money which is in your account. You cannot access
someone’s account.
“What I am explaining is that you access the amount which is in your
account.”
He said this also relates to the foreign currency in US dollars “and that
is why I advised you to write the question down, and the responsible
minister of Finance will give the correct response to that.”
Government started circulating a $5 bond note last month after introducing
a $2 note and $1 coin last November to ease the cash shortages.
It was hoped the bond note currency will continue trading at par with the
US dollar, but it is losing value.
COMMENTS
Obviously the crocodile doesn’t have the same problems as the rest of country……..
Perhaps he should join a queue and the rest of Zimbabweans, trying to access enough cash to feed themselves and to pay the very irritating and mostly unfair police fines.
The arrogance of his answer just tells me that he has absolutely no idea what happens with ordinary Zimbabweans
This VP has absolutely NO IDEA on the subject of what he is trying to speak about. He has never stood in a queue in all his life, and if he wants ANY AMOUNT of money in cash he will just phone his fellow colleque at the RBZ or Treasury, and it will be delivered to his office within the hour. He doesn’t even want to acknowledge that a cash crisis exists. Typical arrogant ZanuPF minister and VP of a bankrupt Zimbabwe. He is part of the problem, he is unable to come up with a solution. Arrogance at its worst.
One more thing – we shouldn’t have to question the banks or RBZ about the reason for there not being any money – that’s the wrong people to ask. The correct individual to ask is that geriatric president.
Mnangagwa is not presidential material Bob said that there is no suitable candidate now I believe him .Mugabe worked with this idiot for a long time he knows him better. ..what he knows best is to destroy the enemy from gukurawundi,Rex nhongo and Mr Dzamara
Are you saying We Value what Mugabe says, come on.
The crocodile trades in gold – he will print Bonk Notes at his pleasure and exchange them for gold. This makes the gold free for the crocodile because he has his own shift on the Bonk Note Printing Press. Simple. Never mind what the crocodile says – look at what it does.
This is totally ridiculous. THERE IS NO HARD CURRENCY LEFT. IT HAS ALL BEEN PILFERED OUT OF THE COUNTRY !! TOTALLY OUT OF TOUCH WITH REALITY IS OUR VP.
What is the law on employees taking time off during working hours to get their wages.
Production now stops – companies suffer and the workers will still expect to be paid?
Its a vicious cycle leading to certain closures of more companies.
The people of Zimbabwe are to blame for the mess we find ourselves in, If we will not stand up to this dictatorship then stop complaining.
The VP is clueless about how the ordinary person is living in this country. Banks are telling us they do not have the USD Ben if you want to travel. We are being searched like thieves at airports it any border post. The VP is trying to sound phylosophical about nothing. The bond notes are not even available in the banks. Certain banks are giving B30, 30 bond others 300 for the whole week for a company. We all opened USD accounts not Bond accounts so what’s this nonsense he is talking about. This Gvt is all about stealing from the ordinary person using this bond note that they can control. If they were genuine about solving the cash problem they would have gone the SA Rand route.
zano pf holigans. they have looted all the wealth for themselves and ordinary zimbabweans are suffering