Gvt exclude return in US dollars
By Anna Chibamu
VICE President Constantino Chiwenga has said Zimbabwe will never return to the era of dollarization despite evidence that the Zimdollar is weakening sharply.
Economists have even warned that the local currency could become moribund as early as June this year given inflationary pressures.
In his threatening speech to Zanu PF supporters at a rally in Marondera on Sunday, where most people came by bus from across Mashonaland East, Chiwenga also said the government was working to introduce strict regulations that would see black market traders jailed for a long time.
He blamed the black market for fueling the price hikes.
President Emmerson Mnangagwa did not attend the rally at Rudhaka Stadium in Marondera despite being announced as the star of the rally.
More than 100 buses were used to transport supporters to Marondera, despite police banning the Citizens Coalition for Change (CCC) party from doing the same at its rally in Highfield which also took place yesterday.
Only members of the province’s political bureau attended the rally.
The few party bigwigs who attended the Chiwenga rally were Political Commissar Mike Bimha, Patrick Chinamasa (Finance Secretary) and Sydney Sekeramayi.
In his address, Chiwenga said the government was trying to fix the black market which he said had destabilized the economy.
“The black market has led to price increases. We cannot afford our daily necessities. This has also resulted in the loss of value of our local currency. So the government is fixing this mess. Those found on the wrong side of the law will be dealt with accordingly,” Chiwenga said.
“We have warned you and we are going to make sure that you do not get out of prison if you are arrested. We are going to put in place heavy measures. So people, please help us catch these evildoers who are trailing us.
Recently, the Reserve Bank of Zimbabwe blamed widening FX premia on the alternative market which it said had been fueling inflation and rising prices since July last year.
Chiwenga said the country would not adopt the use of foreign currencies in the future.
“Using other currencies brings nothing but poverty. The use of the US dollar devalues our local currency. The use of the US dollar came after the Global Political Agreement (GPA) and people like (Tendai) Biti (former Minister of Finance) wanted to use foreign currencies. We don’t want foreign currency, we want our Zimbabwe dollar,” he said.
The former army general reiterated that the Zanu PF will continue to rule and the nation will grow without depending on foreign aid.
The town of Marondera was given a makeover ahead of the rally, with roads rehabilitated, among other infrastructure, in anticipation of Mnangagwa’s visit.
Three constituencies and 10 wards are vacant due to deaths or recalls of MPs and councillors.
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