COLUMNIST Eric Bloch should stop being parochial and see the bigger picture.
Is it because he sits on Reserve Bank governor Gideon Gono’s advisory board that he is unable to be objective?
He knows the evils of inflation, no, hyperinflation, and yet he still
supports the printing of money.
The simple fact is that if the RBZ had not printed more money, the FX (free funds) from NGOs, among others, would have been lapped up by money already in circulation from industry and going to productive use.
He implies that NGOs do not use, or use little of their money for consumables. What percentage of their funds are used for salaries alone?
And believe me, those close to 80 Samora Machel Avenue say the rate used was well above the mid-rate.
Presumably Bloch went on to justify these schoolboy arguments later in the column, but after just two columns I did not have the stomach to carry on reading.
Apologists of this kind do not help the cause of the independent press. At least a disclaimer at the end of the article stating that he sits on the RBZ board (if in fact he does) would help readers realise that they should take his writings with a huge dollop of salt!