Zimbabwe News and Internet Radio

We will start by full dollarization then Zim Dollar later on: Chamisa

Opposition Citizens Coalition for Change (CCC) leader Nelson Chamisa said, if voted into power, his government would start with full dollarization before creating “a conducive environment and the right confidence levels for the adoption of our local currency”.

Zimbabwe is currently experiencing an economic crisis as the Zimbabwean RTGS dollar which President Emmerson Mnangagwa’s administration adopted in 2019 is fast falling against the US$.

Workers in the public sector, particularly nurses and senior doctors, are striking demanding to be paid in the United States Dollars. Basic services and commodity prices are going up.

Against this background, Chamisa on Tuesday said if his party is voted into power in 2023, his government would implement a raft of measures to resolve the problems Zimbabwe is facing.

He said the alternative government would: “Develop demand driven policies informed by inclusive policies and inclusive politics anchored upon an inclusive dialogue with all political actors, economic players, labour, business, civil society and academia with a view to build a new consensus and buy-in.

“Our policies will be predictable, consistent and guarantee certainty – this will help citizens, economic agents, workers, business and investors to plan with certainty.

Resolving the debt crisis in Zimbabwe by engaging the multilateral community and opening Zimbabwe to the world.

Related Articles
1 of 365

“We will make Zimbabwe an entrepreneurial society- new industries, new factories and new companies and new sectors and employing more.”

“We will embark on radical Central Bank reforms on the back of wide consultation with bankers, business and labour.

He added: “We will start with full dollarization and then create a conducive environment and the right confidence levels for the adoption of our local currency.

“As part of our de-dollarisation road map we will make sure that we meet the following:(i)fiscal consolidation;(ii) current account surplus;(iii)6 months import cover (forex reserves);(iv)stable exchange rate;(v)single digit inflation; and (vi) productive and competitive economy.

“On the back of a well functioning economy, powered by production and stable macroeconomic environment, we’ll provide a dynamic social services which-a robust health and education system, well functioning welfare system and a highly rewarding civil service attracting workers from private sector.”

Chamisa noted that the poverty levels as reported by the  Zimbabwe National Statistics Agency showed that people in extreme poverty which “has risen from 29% (4.64 million people) to 49% (7.9 million people), that is, an additional 69% of the population was pushed into extreme in the last 4 years.

Chamisa is likely to face Zanu-PF leader Emmerson Mnangagwa in the upcoming harmonised elections.

A Mass Public Opinion Institute (MPOI) survey published last week predicted that Mnangagwa stands no chance against Chamisa if elections were to be held today.

According to the MPOI Afrobarometer round nine survey, 33% of the respondents said they would vote for the CCC leader against 30% who vouched for Mnangagwa.