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Our govt “will dollarise again to bring back stability” – Tendai Biti

Former Finance Minister and current CCC Vice President Tendai Biti has promised to redollarise the country if his party the Citizens Coalition for Change (CCC) is voted into power after the 2023 elections.

The country is set to hold general elections in 2023. But in two weeks time, Zimbabwe will also hold by-elections for constituencies and wards which lost representation in Parliament and local government due to recalls or deaths.

Addressing supporters at a rally in Gweru on Sunday, Biti said the first thing the CCC government would do if voted into power was to stabilise the economy by redollarising.

His sentiments come at a time when civil servants are complaining about the Zimbabwean dollar which is gradually losing value against the US dollar.

“The first thing that the CCC will do is to bring back the US dollar,” Biti said.

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“Workers should get US$s. Teachers will get their US500. We did that. We will dollarise again to bring back stability. By that, we restore pensions, salaries, teachers and doctors to work and make sure hospitals are equipped.”

The current Finance Minister, Mthuli Ncube in 2019 ended a decade’s use of the multi-currency regime which was adopted in 2009 to tackle the 2008 hyperinflation. But three years on, civil servants have not come to terms with the decision. They are demanding wages in US dollars.

Government teachers and University lecturers are currently on strike while nurses and doctors are threatening to join.

Government has since responded to its workers’ job action by threatening to replace them.

Ncube recently argued that dollarising the economy in Zimbabwe was a “bad idea”.

“I want to be clear, we are not US dollarising. We will not US dollarise. US dollarisation is a very bad idea. The reason why our industry is performing well, the utilisation is up there, the house of souvenirs is because we have a domestic currency,” he said while responding to a question in the National Assembly.

Biti further posted on Twitter on Monday morning: “The economy will be at the center of the 2023 election, re-dollarization, scrapping of the failed and rigged auction system, floating of the Zim$, scraping of FX Surrender requirements and paying civil servants in US$ will be a must!” Nehanda Radio