HAVING just been in Zimbabwe on an emergency family visit, I really enjoyed reading the hard copy of the Zimbabwe Independent rather than the electronic edition that I am used to.
I could not agree more with your Editor&#
8217;s Memo headed “Send them 000ff too” (Independent, August 4).
It really is rank madness that the over-zealous Reserve Bank governor should try and claim credit for the mess that he and his boss have created.
It is useful to reflect on the state of affairs when the govenor took over.
The parallel exchange rate was US$1:$6 000. There was a reprieve as the local dollar appreciated to $3 500. This turned out to be a false dawn as the rate marched relentlessly northwards achieving the dizzy heights of $650 000.
The highest note was probably $500. Now the highest note is $1 million ($100 000).
Inflation was around 625%. It retreated to around 125% but has since taken a life of its own climbing to about 1 200%.
Interest rates were around 100% and moved to +800%.
The remit of the central governor everywhere else in the world is to manage interest rates, exchange rates and inflation. Given the current state of affairs in respect of these, Gono has been a total failure.
He is the big zero that needs to be sent off.
I was gobsmacked when I saw an advert on TV with a thief settling to steal a wheelbarrow rather than a bin-liner full of the old bearer cheques. When I was advised that these adverts were being flighted by the Reserve Bank I realised that there is no hope with these bunch of clowns.
The irony was lost on the governor that the fact that the thief preferred to steal the wheelbarrow rather than the cash is a sad indictment of his governorship.
In my book, Gono is the worst governor this country has had. He should just resign and, while at it, take his boss with him.