Zero Pindula

WhatsApp Message

*Moment Of Truth: ED Told To Dump Zim Dollar & Look For Alternative Currency*
https://www.pindula.co.zw/2020/02/21/moment-of-truth-ed-told-to-dump-zim-dollar-look-for-alternative-currency/?article

Business and Labour leaders on Thursday told President Emmerson Mnangagwa to dump the Zimbabwe dollar by mid-year if it continues to devalue as has been happening since its re-introduction seven months ago.

Employers Confederation of Zimbabwe (EMCOZ) president Israel Murefu addressed the Political Actors Dialogue (POLAD) Economic Summit at the HICC in Harare yesterday. He said:

_Currency has to store value, and in all honesty, the local currency cannot be said to be a store of value._

_The currency tends to move in one direction that is downwards. A normal currency must fluctuate — move up or down depending on supply and demand aspects in the economy._

_We need to stabilise the currency and if we fail to do so by mid-year or end of the year we have to look at an alternative currency._

Also speaking at the event, Zimbabwe Stock Exchange chief executive Justin Bono said the Zimbabwe dollar is scaring away investors due to its volatility.

----------
*Latest itel A70* - now available on Pindula
128GB storage, 8GB RAM
*$89 Cash on Delivery.*

_We deliver in Harare and Bulawayo everyday between 9am and 4pm_

also available on Zero Deposit to Civil Servants and Pensioners.

WhatsApp: 0️⃣7️⃣7️⃣2️⃣ 4️⃣6️⃣4️⃣ 0️⃣0️⃣0️⃣
----------

Meanwhile, Apex Council chairperson Cecilia Alexander told President Mnangagwa and his POLAD colleagues that the market has re-dollarised yet civil servants were still being paid in local currency and this could lead to the collapse of social systems.

*More: NewsDay*

*Featured Products*

*Follow our Pindula Channel on:* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v

Give us Feedback