By Staff Reporter
Harare, June 03, 2016 – VICE President Emmerson Mnangagwa on Thursday blamed the prevailing cash crisis to the country’s neighbours he said now invade the Zimbabwe to reap the US dollar.
Mnangagwa also appealed to sceptical Zimbabweans to accept local bond notes set to be unveiled by the central bank in October this year.
Zimbabwe abandoned its own currency at the height of her economic slide 2009, assuming a multi-currency regime dominated by the US dollar.
The current government led by President Robert Mugabe has come under fire for destructive policies which have seen companies shut down and the majority now eking out a living in the informal sector.
Mnangagwa, who has been a government official since independence in 1980, instead, blamed the current crisis to the country’s neighbours.
“We want our economy to get out of the doldrums,” Mnangagwa told party supporters in Gweru on Thursday.
“We have been under the illegally imposed sanctions for the past 16 years which affected productivity leading to the closure of companies. As a result, we ended up dumping our Zimbabwe dollar for the multi-currency regime. But because we don’t print the US dollar, all SADC countries don’t have the US dollar and they are coming to raid Zimbabwe.
“Even those who trade in tomatoes come here and get the US dollar. If we sell anything in Zambia, we get kwachas, Botswana pulas and that has resulted in the shortage of the US dollar in the economy.”
Mnangagwa said the widely resented bond notes were set to ease the cash crisis, which have seen most Zimbabweans spending their productive hours in bank queues.