Khupe speaks on currency

Khupe speaks on currency
Published: 02 July 2019
Leader of the smaller MDC Thokozani Khupe has said the new monetary policy highlighted by the ending of a 10-year multi-currency system, does not demonstrate a long term plan with a defined path to some end goal.

The former deputy prime minister during the stability-inducing Government of National Unity between 2009 and 2013, said while Finance minister Mthuli Ncube promised a raft of measures from the central bank to support this new mono currency regime,  it is not clear how these measures will address the issue of potentially empty shelves, as a result of lack of foreign currency by retailers to restock, since most basic goods come from our neighbouring countries.

"The black market will inevitably return with the effect of eroding revenue collection by the State, and thereby destroy the State's capacity to spend on social programmes, especially the social security net.

"The few locally produced products will sky rocket beyond the reach of ordinary folks and the mischief which this policy shift seeks to curb, will come back with a vengeance, which will be fertile fodder for our youths to fill the streets in protest of the hardships," Khupe said through her spokesperson Khaliphani Phugeni.

- dailynews
Tags: Khupe,


Latest News

Latest Published Reports

Latest jobs