With the introduction of Zim dollar this morning many people have said a ton of things about Finance Minister Mthuli Ncube’s latest policy. Here are just a few selected tweets of what some Zimbabweans said:
We can't work with miracle economic policies, no it won't work waking up RTGS and Bond now being Zimbabwe Dollar. That is illegal and l once said it #BataiMazwi
— Joice Mujuru (@JoiceMujuru_) June 24, 2019
Here we go my Zanu PF friends! pic.twitter.com/RWd12noyPd
advertisement— Pedzisai Ruhanya (@PedzisaiRuhanya) June 20, 2019
GUERRILLA ECONOMICS & ambush currency measures are ill-advised, destructive & confidence-draining. Zim-dollarization requires that macroeconomic fundamentals,public confidence, trust,fiscal discipline, political stability and legitimacy be in place for it to be fully sustainable.
— nelson chamisa (@nelsonchamisa) June 24, 2019
All they have done is to wakeup with the OLD & failed bondcoins, bondnote & RTGS$ as the NEW previously failed currency called the Zimbabwe Dollar. You will not find a legitimate government anywhere in the civilised & democratic world engaging in such crude currency racketeering! https://t.co/VpgsJzLIBU
— Prof Jonathan Moyo (@ProfJNMoyo) June 24, 2019
#DangerousBallPlay@MthuliNcube playing the self-destruct SI 142 ball for @edmnangagwa!#APictureTellingAThousandWords pic.twitter.com/SYyA3d0GjN
— Prof Jonathan Moyo (@ProfJNMoyo) June 24, 2019
2. It’s sink or swim for Mthuli Ncube. With the dramatic re-introduction of the Zimbabwe Dollar, he has taken the plunge. But is a change of name enough? They have changed names, from Bond Note & RTGS to Zim Dollar. Will it smell differently? A new name that’s not actually new?🤷🏾♂️
— Alex T Magaisa 🇿🇼 (@Wamagaisa) June 24, 2019
Zimbabwe doesn't have a currency crisis;Zimbabwe has a governance deficit. US$ is less volatile than most currencies & less likely to suddenly depreciate. 62% of all central bank reserves across the world are in US$. 90% of global forex trading is in the US$. You ban the dollar? pic.twitter.com/0HVcQhVxKb
— Brezh Malaba (@BrezhMalaba) June 24, 2019
Dear @nelsonchamisa
— Retired Slay Queen (@TafadzwaMasang3) June 24, 2019
Musi uya wakati vamwe ma #STUPID but ndiri kuona kuti kwanga kiri kusekana kwavana kamba. US$ is not printed in Zim and shud nvr be used for local transactions, kutenga mazhanje ne cascade. Our own local currency is the only way to go.https://t.co/3ft1NVyjxj
3.3. The change from old #ZimDollar to USD/multi-currency, to BondNote/RTGS and now back to #NewZimDollar is a nightmare for accountants, statisticians, bankers, economists, etc. This is the main reason why currency changes should be well planned. 15@BrianRupiya @daddyhope pic.twitter.com/mYGZ4TodnP
— Prof. Mlambo (@MlamboProf) June 24, 2019
Banning the use of foreign currency and introducing Zim dollar is a desperate move to stop re-dollarisation, anyway they will not succeed. There is no incentive to continue selling with the dead currency, sooner or later goods will vanish from shops.
— Shame (@ExpBusinessSA) June 24, 2019
So in 2008 the same Zimbabwean Gvt that is there now decides to introduce a multi-currency system to save the economy. 11 years down the line they decide to bring back the Zim dollar to save the economy.
— Bulawayo Child🇿🇼 (@Shado_Shadoe) June 24, 2019
How? pic.twitter.com/T9AnEXRVEg
At the end of the day, no one is saying Zim shouldn't have it's own currency. We all want our own currency that we can be proud of, but what's the point if we haven't fixed the reason why the old currency died in the first place?
— DomNotToretto (@Bik3r_boi) June 24, 2019
@nelsonchamisa's obsession with the US and now relatively the US dollar is unimaginably over board. No country will eva fully develop using another country's currency. Zim needs its own currency & a lot of production to improve on exports. Simple https://t.co/uWdCHmszS0
— Tatenda (@ttgono) June 24, 2019
So we have banned other currencies because we have invented our own “multi-currency” system … bond, RTGS Dollar and Zim Dollar …. all trading simultaneously 🤦🏾♀️🤦🏾♀️🤦🏾♀️ I have a headache #khiyakhiyaeconomics pic.twitter.com/JJuKcw2Cnn
— #Thwithakazi (@thwithakazi) June 24, 2019
So it is now official, Zimbabwe will introduce a new currency in 9 months. Well timed at the end of current IMF SMP in March 2020 and coincides with the tobacco selling season. And so right now is building on currency reserves and reducing imports. Zim Dollar coming home baby!!!
— Bla B (@bmusonza) June 21, 2019
"Zimbabwe to introduce a new currency in 9 months time." It seems the regime's 9 months is a weekend long. https://t.co/RtQQBgBwGk
— Hillary Musarurwa (@HillaryMusarurw) June 24, 2019
These tactics of introducing a currency in the dead of the night only serve to decrease confidence in your policies. Confidence, like respect, is earned, not legislated. There will soon be no money in the banks save for whatever you want to call that which you want to pay civil s
— Adv TTG Musarurwa (@tazmus982) June 24, 2019
N.B Did you know you can easily keep up with the rapidly changing exchange rates on WhatsApp? You just send the word Rate to the Techzim Market number: 0719696102. Or use this shortcut link: http://wa.me/263719696102?text=Rate
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