Source: Govt plots end to cash crisis • Raft of measures in pipeline • Chinamasa briefs Politburo on progress | The Herald June 9, 2016
Tendai Mugabe Senior Reporter
Government is working on a raft of measures, including withdrawal limits and increased use of plastic, to address the obtaining cash crisis.
These measures are expected to catalyse the implementation of the economic blueprint, Zim-Asset, which seeks to transform the country’s economic fortunes by 2018.
It is hoped that once the measures are implemented, the cash crisis would soon be under control.
Addressing journalists after the Zanu-PF Politburo meeting in Harare yesterday, the party’s secretary for Information and publicity Cde Simon Khaya Moyo said the measures sought to restore market confidence.
He said Finance and Economic Development Minister Patrick Chinamasa, who is also the party’s secretary for legal affairs, had given a comprehensive report on measures being implemented by Government to address cash shortages.
Cde Khaya Moyo said Cde Chinamasa also briefed the Politburo on progress made on re-engagement efforts with multi-lateral lending institutions.
“The secretary for legal affairs, Cde Patrick Chinamasa, in his capacity as the Minister of Finance and Economic Development updated the Politburo on the implementation of Zim-Asset with emphasis on measures to address the cash crisis,” said Cde Khaya Moyo.
“These include use of plastic money, charges and fees on the of point of sale machines, Real Time Gross Settlement and mobile banking platforms, cash withdrawal limits, export bonus scheme and enhanced interbank market foreign exchange management.
“He (Cde Chinamasa) gave a very clear detail on this but I am sure you will be hearing more from the Reserve Bank of Zimbabwe on these matters. He has already addressed them but certainly the situation will soon be under control.
“The aim of course, of this brief by the Minister of Finance is to restore market confidence. The Reserve Bank governor has been having meetings with key stakeholders on this matter.”
Cde Khaya Moyo said the Politburo received a report from the party’s national commissar Cde Saviour Kasukuwere on the state of the party.
He said Cde Kasukuwere reported that the party was stable in almost all provinces and provincial structures remained the same, adding that the reported changes of provincial structures in Masvingo province were null and void.
“The national commissar Cde Savior Kasukuwere gave a comprehensive report on the status of the party provinces throughout the country,” said Cde Khaya Moyo.
“Generally the party is stable in all provinces and structures of the party remain as they have been. In other words no province can effect changes among structures without following laid down party guidelines including Masvingo province. The national commissar noted that the recent changes announced in Masvingo province are null and void.
“He further went to inform the Politburo that His Excellency and the First Secretary of the party had a very successful meeting with party provincial chairpersons recently.”
Cde Khaya Moyo said the party’s deputy secretary for Youth Affairs Cde Kudzanai Chipanga and secretary for external affairs Cde Simbarashe Mumbengegwi gave reports on the recently held Million Man March and President Mugabe’s attendance at the African Caribbean Summit in Papua New Guinea respectively.
“Deputy secretary of the Youth League Cde Kudzai Chipanga gave a detailed brief on the recently and successfully held One Million Man March which took place on the May 25, 2016. It was on Africa Day here in Harare,” he said.
“The historic march was attended by hundreds of thousands of people demonstrating the massive support Zanu-PF has throughout the country. The Youth League leadership itself shall be visiting all administrative districts countrywide expressing naturally, gratitude for the amount of work our leadership provinces did for the success of the march.
“The leadership of the Youth League in this exercise shall be accompanied by various ministers who will be explaining to the youths how their ministries can assist young people to engage in various employment activities and what projects youths can embark on.
“The event showed the international community and local opposition political parties that Zanu-PF is the game in town.
“The secretary for external affairs Cde Simbarashe Mumbengegwi gave a brief on the recent attendance by His Excellency the President to the African Caribbean Pacific Summit held in Papua New Guinea. The report was well received and the President was congratulated on the role he played in this summit.”
COMMENTS
Good to hear that plastic money is going to get ZimAsset back on track. I was getting worried about it.
What a shower!
The early Hominids who call themselves Zanu PF do not have any clue as to what to do to ‘fix’ the cash crisis.
They are stupid, illiterate, dumb idiots. Even the Neanderthals were smarter than them. However, they will never introduce the Bond Note, because it will be political suicide for them – so they will have to stop stealing the money and or resign their jobs and call early elections. The same hominids run the Herald newspaper: they believe in all this claptrap so they print it. They must think we are all idiots!
If you think Zanu’s problems are bad ….. wait til you see their solutions!
Charges and Fees at point of sale ???? so if you buy a loaf of bread for one dollar and have to pay with a card what will said Fees be – another one dollar – so a loaf of bread will cost two dollars or not, how many people have bank cards CBZ already charges 10 dollars at any ATM regardless of amount with drawn – I want 20 dollars but i have 27 in my account – erm sorry you cant have it !!!!!
If the “govern”ment is involved it will be a fiasco. Measures to ensure the bigwigs can loot as they like and we pick up the tab.
This is all Bu775h1t, Don Mugabe & his mafia have found another way to steal hard currency & fatten their bank accounts abroad.
It’s time that all of us Zimbabweans accept that our beloved country is doomed, dead, finito, there’s no hope, no matter what anyone does. Zanu PF have stolen everything and banked the hard currency abroad & now they’ve found another way to steal more money. This problem was always going to rear it’s ugly Zanu PF head. It started when we gave up our currency and switched to the US dollar, this was MDC & Zanu PFs way of saving Zimbabwe, but it backfired spectacularly and these two parties are both to blame. We should of switched to the South African Rand & not the US dollar, but they both saw a way to get filthy rich especially Zanu PF. Money from the Diaspora together with the US dollar have fattened these Zanu PF thieves bank accounts abroad & now it’s the bond notes they will use to further fatten up their bank accounts abroad and leave Zimbabwean residents with no means of getting their own money from the banks. Until we have a revolution these Zanu PF b@r57@r6s will keep on getting richer while everyone else suffers.