Tuesday, June 25, 2019

We deserve credit for bringing back the Zimbabwean Dollar: ED

President Emmerson Mnangagwa Tuesday morning said his government deserves credit for bringing back the Zimbabwean Dollar while banning the use of the multi-currency system
Mnangagwa’s government legalised the use of the US dollar, the Rand and other currencies while opting for the local currency.
He told reporters in Victoria Falls that the move will make Zimbabwe normal again as it was one of the few “abnormal” countries using the multi-currency system.
“Zimbabwe has gone back to normalcy and the normalcy is that a country must have its own currency. We were living in an abnormal situation and you must congratulate us for becoming normal again,” Mnangagwa said.
Questioned on whether the country would do away with the surrogate currency, the bond note, Mnangagwa said the local currency which is in circulation at the moment will continue to be used.
“Our current currency is dominated either by the coins, the bond notes or the RTGs. All that is still domestic and still allowed to do a national transaction,” Mnangagwa reiterated.
The re-introduction of the Zim dollar has been met with widespread scepticism as some fear for further economic collapse due to lack of confidence in the local currency.