JUST IN: Finance Minister Mthuli Ncube reveals when government will introduce NEW currency

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Finance and Economic Development Minister, Mthuli Ncube, has dismissed claims by MDC Deputy Chairperson Tendai Biti that the government will introduce the Zimbabwean dollar this week saying the country will only have its own currency when the conditions are right to do so.

Ncube said Biti had no basis to be commenting on government business since he is not in government but said the re-introduction of the Zim Dollar will still happen this year.

“He is not in government, we are… I think he is free to comment on anything frankly and also as a member of the opposition, that always welcome, it keeps us on our toes.

“However, we have policies, we will do it (introducing the Zim Dollar) when we are ready. We have a game plan, we have a roadmap, we will do the needful when the conditions are right,” said Ncube.

Further cornered to give a timeline on when the country can expect the new currency, Ncube maintained his earlier stance which he announced in November that government will introduce the new currency in the next twelve months.

“I cannot give an outline but I have always said and been consistent in doing so, that in 12 months’ time we should have our own currency in the monetary system and I still maintain that.

Earlier today, former Finance Minister Biti tweeted that government will introduce the Zim dollar, sending shivers on the already weakened market.

The country has been plagued by an acute cash shortage for over two years, which forced the government to introduce a bond currency, which has, however, failed to alleviate the crisis as demand for the US Dollar has forced it to lose its value while forcing inflation to rise up sharply.

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