Zimbabwe dollar use: President Emmerson Mnangagwa sticks to his guns


‘No going back on  Zimdollar’: President Mnangagwa

President Mnangagwa has said that the Government would not go back on the use of the Zimbabwean dollar — as the country cannot develop without its own currency.

The country, he added, would continue implementing measures to safeguard the Zimbabwe dollar against the backdrop of various machinations to destabilise and destroy it.

“To prosper as a nation, we must have our own currency. We cannot develop and prosper without our own currency. They may plot to destroy our currency, whatever they do, let me make it categorically clear — we will not go back on the currency issue. We will continue until our currency stabilises and strengthens. It is only with our local currency that we can develop as a nation. The American currency can only develop America, the Rand can only develop South Africa, the Pula can only develop Botswana, the Kwacha can only develop Zambia and the Metical can only develop Mozambique. And in Zimbabwe, can we continue to depend on other people’s currencies? No. We will continue to promote our own currency,” said President Mnangagwa.

Government recently introduced measures to stabilise foreign exchange trading, exchange rates and inflation.

The planned policy interventions were part of the de-dollarisation roadmap and came as a result of a recent surge in the black market exchange rates driven by a bulge in Zimbabwe-dollar holdings by a small group of corporates and an official foreign exchange trading platform that needed to be more transparent and effective.

The President emphasised that while the new dispensation was willing to engage, and re-engage, it would not tolerate a process with conditions attached.

“The new dispensation is eager to engage and re-engage. We will continue to engage those who never engaged with us. We are saying let us reason together and see where we wronged each other and made us enemies. We must engage with all willing countries worldwide.

“Members of the international family, let us engage, let us dialogue, let us have a conversation and move forward. Zimbabwe wants to be reintegrated into the family of nations, so we must engage. And when we say we want to re-engage, we mean there are some who were engaged with us who have disengaged,” he said.

— Herald

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