Sunday, May 5, 2019

The best way to go is to use our own currency: ZanuPF Economist

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A ZANU PF aligned economist, Persistent Gwanyanya has said it is high time the government do away with the multi-currency system.
Speaking at a currency reforms breakfast meeting hosted by the Business Economic Empowerment Forum in Harare, Gwanyanya said, “The foreign currency, in the country, should be channelled towards other priority areas so that we industrialise.
“The best way to go is to use our own currency, which is the trend all over the world. If we look at strides that have been made in the fiscal front, conditions are ripe for our own currency.”
Gwanyanya said the adoption of a local currency will result in the available foreign currency being channelled towards the importation of goods and other developmental projects. He also opined that the abandonment of other currencies will force the local currency to work.
He opposed Econet boss Strive Masiyiwa on the adoption of the Rand. He said that most consumers of goods use the USD insyead of the rand.
He was backed by the elderly former MDC renegade, Mr Eddie Cross who said that adoption of the Rand comes with some obligations.
Cross also said the Rans was rejected by the people.