By Antony Sguazzin, Brian Latham, and Godfrey Marawanyika |REUTERS| For Zimbabwe’s government, the reintroduction of the national currency a decade after its demise is a return to “normalcy.” For most of the country’s citizens, it’s a bitter reminder of years of hyperinflation, which destroyed their savings and left them bartering for daily basics. “Remember 2008, when you … Read full post here
As a follow up to Statutory Instrument 142 of 2019, which reintroduced the local Zimbabwe Dollar as the sole legal tender and banned foreign currency for all local transactions, the government is reported to have banned cash withdrawals from all Foreign Currency (FCA) Nostro Accounts. The directive is reported to have been issued to all … Read full post here
Below is a receipt from a Spar supermarket in Bulawayo showing extremely high prices after the reintroduction of the Zimbabwe Dollar and the banning of all other foreign currency. Some of the prices have gone up by more than 100 percent.
President Emmerson Mnangagwa has explained the decision by the government to reintroduce the Zimbabwe Dollar and de-dollarise saying that US Dollar Pricing was the root cause of inflation. The President also said that it was necessary to do away with foreign currency as he wanted to return the country to normalcy. Writing on social … Read full post here
Speaking on the reintroduction of the Zimbabwe Dollar and the banning of all foreign currency, President Mnangagwa said that Zimbabwe’s economy has now returned to normalcy as a functional economy should have its own currency.
Accounting and Auditing firm, Grant Thornton has suspended some employees who published an opinion piece criticising the re-introduction of the Zimbabwe Dollar and the suspension of the multi-currency system. The firm said that the piece had been published by the employees without the permission of the partners. The firm wrote, Statement on an unauthorised … Read full post here
Finance Minister Mthuli Ncube has said that the de-dollarisation of the economy is a necessity which is outlined in the Transitional Stabilisation Programme (TSP). "Today marks the end of the multi-currency regime and the adoption of a mono-currency regime in favour of a domestic currency" – Minister @MthuliNcube pic.twitter.com/czLNnAVqN4 — Ministry of Information, Publicity … Read full post here
Parliamentary, legal and civil rights watchdog, Veritas, has written an opinion of SI 142 of 2019 which re-introduced the Zim Dollar and banned all other foreign currencies as legal tender. Below is the legal opinion in its entirety This morning an important statutory instrument was published in a Government Gazette Extraordinary: the Reserve Bank … Read full post here
Controversial Deputy Minister of Information, Publicity & Broadcasting Services Energy Mutodi has added confusion to the government’s introduction of the Zim Dollar by saying that the government is awaiting an official legal instrument to official de-dollarise the economy. This comes despite the fact that the government gazetted Statutory Instrument 142 of 2019 which made … Read full post here
The Ministry of Information, Publicity and Broadcasting has confirmed that indeed the Zimbabwe Dollar is back and that all other foreign currencies have been banned. The Ministry used its official social media to confirm that the news is indeed legitimate. The Ministry wrote, Government has gazetted SI142 of 2019 known as Zimbabwe (Legal Tender) Regulations. … Read full post here