THANK you for giving me space to comment on Reserve Bank of Zimbabwe governor Gideon Gono’s review of his July 31 monetary policy statement.
The first thing to be noted is that Gono is full of pride and self-praise. His rev
iew is to a large extent a thunderous missile aimed at attacking genuine critics of his policies whom he is quick to label “detractors”.
Through his continuous reference to his Project Sunrise as “home grown” without any “external help”, Gono seems to believe that by removing zeros from the currency and printing new bearer cheques to replace the old ones he is a messiah who has given Zimbabwe an unprecedented economic success story worth any world record book. I am sure if he were to be told that his much-acclaimed success is zero from the economic recovery point of view he would faint.
Gono, in as much as others have pointed out that you are cultivating your political career to State House, I find your “review statement” more of a personal attack on the so-called detractors who want to “bring back the banished zeros through whatever devious means they have in mind”.
I am not an economist but it is simple to understand that as long as the economic and political atmosphere that brought about the zeros is not dealt with, those zeros will definitely return and grow. So it is not about a person bringing them back but the political situation which you are so much involved in propping up!
Please, could you therefore be advised that criticism is not always detraction but quite often it is necessary especially when something is so illogical like the printing of a one-cent bearer cheque and having a Zimbabwean who has been in the banking sector for years pretending not to have known that there are hardly any banking facilities in rural areas except in Zvimba!
I personally hunger for criticism to rain on you because you could be abusing state resources launching your political career. Furthermore, through your misguided policies you are shielding and protecting the Mugabe government while impoverishing the rest of Zimbabweans.
As for your self-praise, I would like to say ingungu ayizitshayi or akekho ogida eziqakezela. Simply translated: do not measure your success, let others do it!
And here it goes: compare the inflation and foreign currency exchange rates when you first joined the RBZ and what they are now! The result will show you that you are an absolute failure. A terrible disaster.
My last advice to you is to stop calling yourself “governor” because there are lots of governors in Zimbabwe. Be specific and call yourself the RBZ governor.