Guerrilla economics and ambush currency measures are ill-advised,
destructive & confidence-draining. Zim-dollarisation requires that
macroeconomic fundamentals, public confidence, trust, fiscal discipline,
political stability and legitimacy be in place for it to be meaningfully
sustainable.
Our economics suffers from too much state control and excessive politics otherwise known
as economic dirigisme.
It is my considered view that certain key benchmarks need
to be achieved before the local currency can be sustainably introduced in order
to anchor the local currency.
These benchmarks include: attaining a sustainable GDP
growth rate of at least 7%; low and stable inflation; reducing the high debt
ratios to very low and sustainable levels; increasing the level of savings and
investments to at least 25% of GDP; reducing the balance-of-payments deficit to
less than 5% of GDP; increasing the export level to at least 25% of GDP; high
levels of productive capacity; political stability and legitimacy.
More importantly, foreign-currency reserves need to be
built up to sustainable levels to anchor the Zimbabwe dollar and to defend it
in the event of a currency or speculative attack.
We have the SMART economic blueprint as our alternative to
the current voodoo approach to economics.
Think differently.
Nelson chamisa
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