My Dear People
So John the second has taken over at the helm of the reseveless central bank and his first act was to introduce a new currency to replace the worthless Zimbabwe dollar.
The much hyped introduction of the Zimbabwe Gold (ZiG) currency by the new Reserve Bank of Zimbabwe governor John Mushayavanhu was nothing, but another way of removing zeroes from the battered currency.
We have seen it before.
Gideon Gono tried and failed with all those currency reforms that introduced your agro-bills, agro-cheques and travellers’ cheques, which made everyone billionaires.
The outgoing governor John Panonetsa Mungudya tried it with the bond notes and export incentives, which we were told were the panacea to our two decades of currency instability.
However, by the time his 10-year term was prematurely ended by the clueless scarfed one every Zimbabwean had become a millionaire and they were soon to become billionaires had the ZiG been delayed by a few weeks.
I have said it before and I will repeat it. Nothing will work as long as the politics is not right.
- So, is it a currency?
- All eyes on new RBZ boss as dollar collapses
- Structured currency is foredoomed
- A defining moment for Mushayavanhu
Keep Reading
As long as Zimbabwe is ruled by a power hungry and looting cabal there would be no solution to the economic carnage.
You all thought that Gushungo was the problem and supported that cowardly coup, but the chickens are coming home to roost with your Lacoste cabal.
Munopengaaaa
The planned crackdown by the Consumer Protection Commission and the Financial Intelligence Unit on retailers rejecting the worthless local currency is the latest episode in a series of measures that exposes the leadership bankruptcy of the Scarfmore-led dispensation of poverty, darkness and confusion.
The Zimbabwe dollar had plunged to more than $35 000 to the greenback on the parallel market before the introduction of the ZiG in a damning indictment of the Scarfmore regime’s incompetence.
This, my dear people, is what people mean when they talk about abysmal failure of governance.
The latest crackdown on retailers, who cannot be blamed for rejecting a currency that loses value nearly on a daily basis, is the latest addition to the comedy of blunders by this clueless regime.
Among the catastrophic measures by the Lacoste cabal since grabbing power on the back of guns and tanks include the preposterous ban on bank lending, the ridiculous suspension of trading by the Zimbabwe Stock Exchange and the futile crackdown on individuals and companies for various forex misdemeanors.
Munopenga!!!
The risible attempt by Ngwena and Co. to stabilise a currency, that was introduced without the prerequisite benchmarks in 2019, has severely eroded incomes and entrenched poverty and penury among the country’s citizens.
The levels of inflation are now so embarrassing that Finance minister Mthuli Ncube and his team have been fiddling with the figures to give the false impression that inflation is under control when the situation on the ground exposes these cooked official statics for the hogwash that it is.
All in all, the handling of the economy has been a dog’s breakfast under the leadership of Ngwena, who the wise Gushungo clearly told us, does not have an ounce of probity in his being.
I, as your good doctor, cannot understand for the life of me, the excitement and brouhaha in some quarters around the appointment of John Mushayavanhu as the Reserve Bank of Zimbabwe governor.
I am sure that he is an astute banker with many years of experience as we have been told by state rags.
The tragedy, of course, is that Mushayavanhu, like his predecessor Panonetsa, will simply just be a figurehead at 80 Samora Machel Avenue as he panders to the whims and direction of the Lacoste regime whose leadership qualities are nothing short of disastrous.
It will be impossible to assess Mushayavanhu’s capabilities as the central bank governor given the high levels of political interference by the Scarfmore regime he will, no doubt experience.
Just ask Mangudya, who stood looking glum as his boss Scarfmore announced the ban on bank lending on one evening in May 2022, which caused incalculable damage long after it was hurriedly lifted as the market was engulfed in chaos.
There is a reason why the International Monetary Fund has, during its visits to the country, consistently recommended that the central bank be independent.
The lack of autonomy will undoubtedly mark Mushayavanhu’s stint as the central bank governor as a failure.
With his term hurriedly pushed forward, in the face of the escalating economic crisis, Mushayavanhu will struggle, in vain, to convince a skeptical citizenry to sell the new currency he introduced; be it structured or whatever.
The country’s citizens cannot be blamed for this lack of confidence given the deception of the value of bond notes and hyperinflation they have suffered under Mangudya as central bank boss. His term is already off to an inauspicious start.
Ngwena has declared a state of disaster given the drought situation in the country.
This came soon after his regime had told us ad nauseam that the country’s food stocks were more than adequate for national requirements. How lies have such short legs kkkkkk.
The plea for assistance could not have come at a worse time for the Scarfmore regime in the midst of new attempts to introduce a law that stifles the operations of non-governmental organisations, who are pivotal to averting the hunger that looms nationwide and after recently booting out USAid officials.
It never ceases to amuse and amaze me how this regime rants and raves at the United States boasting about how it governs a sovereign state yet with United States dollars stuffed in their pockets in an economy in which at least 80% of transactions are in the greenback.
Munopengaaaaaaaa!!!
How the Americans must be laughing at such balderdash and pitiful bravado emanating from the Munhumutapa Building. The Lacoste regime should instead just humble itself in its plea for aid and stop these embarrassingly hollow claims of sovereignty.
Fed up by poverty and broken promises, the country’s war veterans have strongly rejected the idea of Ngwena’s miserable push for a third term.
It is not surprising that the war veterans have taken this stance against the octogenarian given that even holding a protest over their parlous situation has resulted in them being arrested and thrown into filthy cells.
How they must miss Gushungo who lavished them with such generous payouts in 1997 at the expense of the economy’s well-being in recognition of their immense contribution.
The war veterans will be happy to know that they are not the only ones appalled and alarmed at the notion of a third term for Ngwena.
For most of the country's citizens, the thought of four more years of Scarfmore’s atrocious leadership is almost too much to bear, never mind a third term!
Munopengaaaaaaaa
Stop It!
Dr Amai Stop it! PhD (Fake)
