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Get Rid Of Zimbabwe Dollar And Fully Adopt US Dollar, Says Chamisa

Get Rid Of Zimbabwe Dollar And Fully Adopt US Dollar, Says Chamisa

CCC leader Nelson Chamisa has urged President Emmerson Mnangagwa to get rid of the Zimbabwe dollar and adopt the US dollar as the sole currency in order to stabilise the economy.

In a position paper on the state of the economy released on Friday, 29 April, Chamisa said the Government should immediately come up with a de-dollarisation roadmap that takes into account the views of all stakeholders. Chamisa said:

Stop the auction system and go for dollarisation. This will immediately remove distortions, multiple pricing, arbitrage, secure stability and save exporting companies from imminent collapse and help all businesses and economic agents to preserve capital.

… There is a crisis of confidence in the market. Citizens are suffering from the price hikes and the deepening poverty level.

All government policies must be demand-driven, inclusive and fully consultative.

We should immediately work on a de-dollarisation roadmap which is inclusive and evidence-based and built on consensus as opposed to command economics and threatening businesses with statutory instruments.

The Government re-introduced the Zimbabwe dollar in 2019 after a decade of a multiple currency regime which brought relative stability to the economy.

The local currency has, however, lost value alarmingly due to the low confidence in the market and this has triggered inflation and sharp price increases.

Economist Gift Mugano also called for full dollarisation, saying businesses cannot thrive where the exchange rate changes daily. Said Mugano:

We should go for full dollarisation clearly because the current economic trajectory has rejected the Zimbabwean dollar.

It’s difficult for businesses to run their companies when rates are changing every day.

With these ugly indicators, there is no company that can operate sustainably.

In any way, the economy is already dollarised as evidenced by the rejection of the Zimbabwe dollar by retailers.

However, another economist, Maxwell Saungweme, said dollarisation was not sustainable and what the Government needs to do is to stabilise the Zimbabwe dollar. He said:

The fundamental issue is not about dollarisation, but the stability of our local currency. Zimbabwe needs to have its own stable currency.

What must be done is to work on measures to stabilise our local, not advocating for its removal and replacing it with the US dollar.

We need to get our economic fundamentals right, boost our productive capacities and have other clear measures to stabilise our currency.

You can’t run an economy without the capacity to leverage monetary policy instruments.

You lose your capacity to leverage monetary policy instruments.

More: NewsDay

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13 Comments

Machiavelli 2 months ago

I don't dare comment for fear of being charged under The Patriotic Act.

Dira hako rizare Champion in Chief


ngorima mushava 2 months ago

we're not a village of the US , we have to use our own currency , those vanoda zve us$ piwai maVisa monogara naBiden...


Machiavelli 2 months ago

I remember the President of ZANU saying USdollar harisi yekutenga mazjanje. I am surprised that izvozvi vanotengesa mazhanje nestonyeni will not accept local currency

Dira rizare wangu

Chawabvunza 2 months ago

Dollarisation is now a chorus. It is true that our only hope of surviving now lies in adopting the dollar as our currency, perhaps our RTGS remain for change purposes. Old People's Home government has tried all tricks in economic books, but has failed. His Excellency President ED MNANGAGWA is now blaming everyone. Yesterday he was blaming sanctions and today he is blaming businesses for sabotage. The auction floor they boast of actually is fueling the black market because the money allotted at the auction floor is the same money traders go out and buy goods which they then mark up their prices as if they got the purchase money from the black market.

[ VOTE CCC FOR REAL CHANGE ].


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Warthog 2 months ago

Chamisa Is here to lead Zimbabwe, kwete vanhu sa ED **** yemunhu iyi......ko US dollar akarivhisirei right now zvinu zvirikungo kwira dailty apa arikuti Zimbabwrans Is out of depression he has recovered economy....kupi, ahhh uyu akupengeswa ne Nyika iyi I think


ngorima mushava 2 months ago

Chamisa is another Zelenskyy in the making..

Ndini Ndadaroo 2 months ago

He will lead t in your wet and smelly dreams

Ccc 2 months ago

👆👆👆👆👆


Gafa 2 months ago

Uyo akadya sipo its an idea haana kuti ndoda kutonga in fact Chamisa is not a ruler like yo ED he is a leader.Njere shoma mutoro kumuridzi ..shame


gamba 2 months ago

ndopako pasocial media mkomana

hawufe wakatonga nyika ino iwe


Ndini Ndadaroo 2 months ago

MDC yakafa isina kutonga kataure pa socio media chete. zviperere ikoko chete chete

Tio 2 months ago

Haasi kuda kutonga, he wants to lead Zimbabwe ,kutonga ndokwenyu kwe CCC its to lead Zimbabwe. Nyika ino haasi ye a certain party exclusively


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