MPs seek to compel govt to introduce new currency

via MPs seek to compel govt to introduce new currency – NewsDay Zimbabwe May 2, 2015

TWO Zanu PF MPs plan to move a motion to compel government to introduce new currency measures to protect domestic industry when Parliament resumes next week.

by VENERANDA LANGA

Makhosini Hlongwane (Mberengwa East) and Oliver Mandipaka (Buhera West) gave notice in March to introduce the motion in the National Assembly which is likely to attract heated debate as some people feel introducing the Zimbabwean dollar will be detrimental to the economy.

Hlongwane, whose motion will be seconded by Mandipaka, wants to argue before the House that they were alarmed by the negative impact on industry of a strong United States dollar against Zimbabwe’s main regional trading partner currencies.

“We are concerned by the absence of Zimbabwe’s own local currency to drive economic growth and to protect the domestic industry, especially the manufacturing industry, and worried by the loss of jobs attributable to the strength of the US dollar against regional trading partner currencies,” the notice of motion read.

“We are disturbed by the high cost of doing business in Zimbabwe, particularly the high cost of production as a result of the strength of the US dollar, and further disturbed by the inability to control and direct monetary policy owing to the absence of own currency.”

In their arguments, they said they would press Parliament to compel the Executive to introduce bold and definitive currency reforms, as well as to take steps to deal with the cost of doing business environment.

“We want the Executive to introduce currency measures to protect domestic industry, and further introduce currency measures to stimulate growth of the economy as well as local demand. They should put in place measures that will enable it to control and direct monetary policy to assist exports and Gross Domestic Product (GDP) growth,” they said in their joint notice.

Zimbabwe abandoned its currency in favour of a multi-currency regime in February 2009 after it became useless paper due to a massive hyper-inflation.

COMMENTS

WORDPRESS: 4
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    “We are disturbed by the high cost of doing business in Zimbabwe, particularly the high cost of production as a result of the strength of the US dollar, and further disturbed by the inability to control and direct monetary policy owing to the absence of own currency.” said zanu pf MP.

    Kkkkkkk. If this is not laughable then I wonder if anything would ever be? Rakamboduda musitayira neiko Zimdollar racho kana raigona kuti zvinhu zvichipe Zimumbabwe? Kutsvaka kuszosa Gono-mix kuti vago printer mapepa avo agoba mari kuReserve Bank dzokuinda nadzo kumaholiday Dubai, China, etc.; vachiti tiri kushandisa controlled exchange rate. Zvatanga havasisina kokuba kwaka wanda diamond ravashoma kuChiadzwa rasara revakuru vakuru (Big Shakes) chete. Tusinde (Small fish) twava kufa nenzara vana vari kuita tumadegree kuna naChina nekumwe kwakadero havasisina mari dzezvikafu. Tusinde twava kutsvaka mimwe mikana yokunokoravo – inga zvakawoma.

    Why not ask Gideon, akuvudzeyi kuti Gono-mix hadzishandi, chimbavha chete chokubira nyika. Manje chinosungisa – Gideon izvozvi achiri kungobvunda, zvichatora makore kuti azonatsa kuvata dzinobata. Watch out chimbavha chakabuda musitayira panguva yaGideon chomoda kudzora mufashion. Ikozvino munokawura chimbavha ichocho hachichaiti, Diaspora yavakuziva chimbavha chazvona chose saka RBZ yacho inongozara mazipepa iwawo amunge maprinter hakuna mari chaiyo yamunowana. Remember, Gideon ati akati Homelink akati chino Diaspora achipota ichidyira kusvika vazivakuti kubigwa chete ndokubva vasungirira mari dzavo. Saka iye zvino wamunofunga kuti munozomutengesera mazipepa enyu iwawo amunoda kuprinter ndiyani? Tibvirayi apoo!!!!

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    It is better to remain silent and be thought a fool that to open your mouth and remove all doubt

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    Tendai 7 years ago

    “We are concerned by the absence of Zimbabwe’s own local currency to drive economic growth and to protect the domestic industry”

    Is this fool serious? I mean is this fool genuinely serious in his concerns? Rhodesia had a dollar worth more than the British Pound Sterling and still managed to trade, and possess a functional industrial and commercial agricultural base.

    These clowns have no clue. The only thing the Zimbabwe Dollar managed was the destruction and looting of the domestic industry which couldn’t import or pay for raw materials, and economic collapse. Zimbabwe is the sorry butt of economic jokes world wide.

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    Independence 7 years ago

    These idiots must be living in a vacuum.