Rand only solution to Zim’s cash problems

THE South African rand could be the panacea to Zimbabwe’s cash challenges, as it can be used without joining the Common Monetary Area and is also part of the multicurrency basket, a leading economist has said.

Speaking on Monday evening at a public lecture on Fiscal, Trade and Monetary Issues, Ashok Chakravarti said countries such as El Salvador, Panama and Ecuador, that had adopted the United States dollar, were successful, as they had strong trade links with the US and also had a good source of supply for the greenback.

The public lecture was held at the Confederation of Zimbabwe Industries (CZI) offices.

This story is for NewsDay subscribers.