PRESIDENT Emmerson Mnangagwa’s plans to abolish the
multi-currency system in favour of a new local currency could spectacularly
fail, resulting in more catastrophe for troubled Zimbabwe if fundamentals such
as political legitimacy and productivity are not addressed, opposition MDC
leader Nelson Chamisa has warned.
Responding to Mnangagwa’s recent announcement that
government will ditch the multi-currency regime and introduce a new local
currency before year-end, Chamisa yesterday said this would not work.
This came as MDC youths yesterday gave Mnangagwa until end
of this month to resolve the country’s worsening socio-economic crisis or risk
crippling mass protests.
“The problem that Zimbabwe faces is not currency, it’s
politics. Until we fix our politics, deal with the legitimacy issues and
address the fundamentals of the economy, introducing a new currency will not
work, it’s about the fundamentals,” Chamisa said.
He said the spectacular fall of the RTGS dollar soon after
its introduction by Finance minister Mthuli Ncube should have awakened
government to the reality of introducing a new currency without the requisite
market confidence.
“Even if they were to allow trade directly in gold as
currency, with the current government which is illegitimate and does not
inspire national and international confidence, the gold will still lose value,”
he said.
Chamisa said because of poor policies, alleged corruption
and looting by top government officials, investment and capital had fled the
country. This resulted in production suffering and creating serious problems
for the economy.
“They should not lie about sanctions. When we were in the
inclusive government, the same measures were in place, but we delivered.
Business needs to have confidence in the government and policy direction.
Capital will not come when you have corrupt elements holding influential
positions,” he said.
His sentiments were echoed by labour consultant Davies
Ndumiso Sibanda and Innocent Ndibali, leader of the opposition Zimbabwe
Economic Freedom Fighters, who both said the economy was not ripe for a new
currency.
Chamisa’s party has snubbed Mnangagwa’s all-parties
political dialogue to end the economic crisis demanding that the Zanu PF leader
recuse himself from leading the process, and has threatened to roll out mass
protests to force government to urgently restore sanity in the economy.
Addressing journalists at the party headquarters, MDC youth
leader Obey Sithole said: “This assembly has agreed on a confrontational
approach in dealing with this corrupt and illegitimate military regime. The
answers to the national question lie in this generation which has a future to
safeguard. As the MDC youth assembly, we are going to set the pace in making
sure that we save this nation from extinction.
“Our message to Mr Mnangagwa is very clear. We are not
going to respect bayonets and bullets, but the voices of the down-trodden and
long-suffering masses. We are definitely going to organise mass action and
occupy the streets since the streets have become more comfortable than our
empty homes. We hear the State has beefed up its armoury to muzzle our voices,
but we are not intimidated for we know they cannot shoot the entire nation. As
such, we are declaring June our month of radicalisation.”
But Mnangagwa said a new local currency would restore
economic sanity and stabilise prices of goods and services.
Secretary for Information, Ndavaningi Mangwana last night
said government respected the constitutional right of citizens or political
entities to demonstrate or protest peacefully.
“That’s not an issue at all,” he said. “It only becomes an
issue if people decide to infringe the constitutional right of others not to
participate by forcing them to do so or if people choose to employ violence in
their processions. Then the State has no option, but to intervene to restore
order and protect life, limb and property.”
Regarding the economy, Mangwana said dealing with the
economic structural issues will not bear fruit in a month.
“Our Transitional Stabilisation Programme, which has been
vaunted by all honest people, will only be complete at the end of 2020. No
amount of protests or demonstrations will change the timelines for such a clear
and progressive roadmap towards the attainment of vision 2030. Let’s all put
our shoulders to the wheel and work for our country,” Mangwana said. Newsday
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