Minister Walter Mzembi supports Yuan Adoption

Zimbabwe’s fast growing tourism sector’s contribution to Gross Domestic Product (GDP) is expected to increase from the current 5.6 percent to 15 percent by 2015.

Mzembi said if the Yuan was to be used in Zimbabwe together with the South African Rand and the United States dollar that would boost the country’s coffers which were currently almost empty due to a serious cash crunch.

He said it could also result in the cash crunch being brought to an end as well as the liquidity constraints bedevilling the nation.

“There is no doubt hat China is one of the fastest growing economies in the world and I see nothing wrong in absorbing the Yuan into the multi-currency system,” Mzembi said in an interview.

“In terms of Zimbabwe’s tourism industry, China is a leading partner and the more we liberate ourselves from the liquidity crisis, the better. If we are able to attract Chinese tourism, expect nothing less than 100 million Chinese tourists by 2015.”