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*Biti Dissects Mthuli Ncube's Monetary Measures* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?qo Former Finance and Economic Development Minister Tendai Biti said Mthuli Ncube’s latest measures will trigger hyperinflation and price increases. Biti also argued that the reason why Ncube and ZANU PF refuse to join the Rand Monetary Union (RMU) is pride. ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- In an interview with the Daily News on Wednesday following Ncube’s announcement that the government was floating the Zimbabwe dollar, Biti said: > The move by Mthuli Ncube is an ill-thought one. We are currently facing shortages of foreign currency and we have no productivity in Zimbabwe to support economic growth and the local dollar. > Floating the Zimbabwe dollar will result in the exchange rate shooting up, triggering hyperinflation and price increases. > What Mthuli has done will result in a serious devaluation of salaries. For example, today people who are earning $7 000 with the current parallel market rate of 1:40 are earning around US$200. > In just a few weeks the parallel rate will hit 1:100 and that is when it will be clear that Mthuli has failed. > The other thing that will follow is the shortage of every essential that is imported, including electricity, fuel and medication. > If we do not have these essentials like electricity and fuel then we cannot talk about production and economic growth. *More: Daily News* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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