Professor Moyo, once a cabinet minister himself, has criticized Finance Minister Mthuli Ncube for remaining silent as Zimbabwe’s economic crisis deepens. The local bond note currency has collapsed against the USD while prices soar, with businesses doubling prices to cover costs. President Emmerson Mnangagwa has blamed companies for “frustrating” government efforts to stabilize the economy.
In response, Professor Jonathan Moyo highlighted how Zimbabwe has returned to 2008 levels with 231 million percent inflation. He argued the current economic policy favors Western interests and has failed to get Zimbabwe out of the hole it dug with ESAP reforms in the 90s. Moyo warned that blaming sabotage hides the government’s inability to fix problems.
Moyo told Minister Ncube that “your silence while prices and currency markets go haywire is too loud.” He suggested Ncube provide a believable message and proposal to calm markets, instead of “shouting matches” with businesses that benefit no one. Moyo concluded by advising Ncube to urgently engage businesses to resolve the crisis.
