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Liberalised Exchange Rate Not In Good Faith

THE Reserve Bank Governor Gideon Gono liberalised the foreign exchange rate.

The reason was to remove distortions in pricing and availing foreign exchange in the formal market, so he said.

At first glance it appears his policy shift is excellent, but a closer look will show that the whole saga is not about good intent. The timing is very suspicious.

Gono at one time shouted from the top of his voice that devaluation was never going to be the answer.

Perhaps at that stage he wanted to prove to his principals that he was not an economic saboteour.

Simba Makoni was a victim of the same policy. So, now who is fooling who?

Reading between lines one would discover that Gono has advised his principals that the presidential poll run-off has put Zanu PF at a crossroads and the only way to oil the campaign machinery was to get foreign exchange quickly from the market.

In order to attract a lot of foreign exchange as quickly as possible, he has decided to match the parallel market.

The money will probably be ear-marked for the payment of foreign rigging experts such as Israeli agents and international propaganda publications such as New African magazine.

The money will most likely also be used for the purchase of campaign materials and guns from China.

The other portion of the money will be used to purchase motor vehicle fuel and jet fuel for campaign purposes.

The list is endless and for this reason one cannot fail to see this conspiracy by Gono. Therefore the liberalisation of foreign exchange by Gono is not in good faith.

Nizola Shiri,


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