Following recent calls by Reserve Bank of Zimbabwe(RBZ) Governor Dr John Panonetsa Mangudya on his Monetary Policy Statement (MPS), putting blame of the widening exchange rate premiums on the alternative black market which Mangudya said was stoking inflation and price increases since July last year, the Governors calls got backing from the country’s second citizen.
Vice President Rtd Gen Constantino Guvheya Dominic Nyikadzino Chiwenga said the country would not adopt the use of foreign currency in the near or uncertain future.
“Using other currencies brings nothing, but poverty. The use of United States dollars is devaluing our local currency. The use of US dollars came after the Global Political Agreement (GPA) and the likes of (Tendai) Biti (former Finance minister) wanted to use foreign currency. We do not want foreign currency, we want our Zimbabwean dollar,” he said.
The former four star army boss, emphasized Zanu PF would continue to rule and that the nation will be developed without reliance on foreign aid or on the foreign Currency redollarization.
Marondera had a keeping up appearances huge facelift ahead of the rally, with roads rehabilitated, among other infrastructure in anticipation of Mnangagwa’s however it was the army General who stood on for his boss.
Three constituencies and 10 wards are vacant for the March 26 2022 bye-elections due to deaths or recalls of MPs and councillors.
Chiwenga declared Zimbabwe will never revert to the dollarisation era despite the Zimdollar weakening.
Economists have even warned the local currency could become moribund by as early as June this year given the inflationary pressures.
In his threat-laden speech to Zanu PF supporters at a rally in Marondera Sunday, where most of the people bussed from all over Mashonaland East, Chiwenga also said government was working on introducing strict regulations that would see black market forex traders being jailed for a long time.
He blamed the black market for fueling price hikes.
President Emmerson Mnangagwa failed to attend the rally at Marondera’s Rudhaka Stadium despite being advertised as the guest of honour.
More than 100 buses were used to transport supporters to Marondera, despite the police barring the Citizens Coalition for Change (CCC) party from doing the same at its Highfield rally which took place yesterday as well.
The few politburo heavyweights from the province who attended Chiwenga’s rally, were political commissar Mike Bimha, Patrick Chinamasa (secretary for finance) and Robert Mugabe’s preferred successor whom Mugabe once bellowed “The sun will rise from the East (Mash East ) when his succession issue heated up, former Minister of Defense Sydney Sekeramayi.
Chiwenga said the government was trying to fix the black market which he accused of destabilising the economy.
“The black market has led to price hikes. We can’t afford our daily needs. It has also led to our local currency losing value. So the government is in the process of fixing this mess. Those found on the wrong side of the law will be dealt with accordingly,” Chiwenga said.
“We have warned you and we are going to make sure that you won’t come out of jail if arrested. We are going to introduce hefty measures. So, people, please help us catch those wrongdoers who are dragging us behind.”