HomeBusiness DigestZim Dollar not Coming Back yet –– Mangoma

Zim Dollar not Coming Back yet –– Mangoma

THE Minister of Economic Planning and Development Elton Mangoma said the local currency was not coming back on the market as the economic environment was not conducive for it to be re-introduced.

Speaking on the sidelines of a press conference to announce the inaugural Zimbabwe International Investment Conference scheduled for July 9 and 10, Mangoma said the Zimbabwean dollar was dead.

“There is no argument on that. The Zimbabwe dollar is not coming back. If there are such signals it is important to take into consideration where and who said it,” Mangoma said.

““Remember we are politicians. Ask yourself was it said at a rally? To achieve what?” he questioned.
Against all that, the position is it (Zimbabwe dollar) has been shelved and not coming back anytime soon,” Mangoma said.

Last week the media quoted President Mugabe saying he wanted to re-introduce the local currency soon.
“People in rural areas were forced to trade with their livestock instead of money.

We can not have a country like that. We are considering going back to our own currency soon,” Mugabe said.

Deputy Prime Minister Arthur Mutambara is also on record saying the local currency was not dead and people should continue to use it.

“Discussion or debate around the Zimbabwe dollar is work-in-progress. Such claims are ridiculous. It is a nonsensical and unacceptable concept to even say the Zimbabwe dollar is dead or dead for a year,” Mutambara was quoted in May.

This week Prime Minister Morgan Tsvangirai said there were no plans or discussion for the “return on the local currency”.

“If the local currency was to be re-introduced today, economically we will go back to were we where last year,” Mangoma said. Meanwhile government has extended to July 31 the waiver for the importation of basic commodities duty free.


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