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ZiG Won't Address Zimbabwe's Economic Challenges - Valerio

11 months agoSat, 13 Apr 2024 07:46:49 GMT
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ZiG Won't Address Zimbabwe's Economic Challenges - Valerio

Opposition politician Elisabeth Valerio has said the introduction of a new currency, Zimbabwe Gold (ZiG) will not address the country’s economic challenges without political consensus, the creation of a safe investimate climate, and transparency and accountability, among other issues.

Reserve Bank of Zimbabwe Governor John Mushayavanhu announced the launch of the structured currency on 05 April 2024.

According to the Central Bank, ZiG’s value is anchored by equivalent value in precious minerals, primarily gold, or foreign exchange held for that purpose by the RBZ.

Valerio, the only female presidential candidate in Zimbabwe’s 2023 harmonised elections, said the country will not achieve currency stability without addressing the wider economic challenges of political instability, inconsistent and obscure monetary policies and the lack of confidence in Zimbabwe. She said:

Whether currencies change or not – how our economy performs is what matters. High inflation and slow growth have been persistent problems affecting the value of our currency. An overnight change in currency cannot allay these.

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The resources and wealth of Zimbabwe must benefit the citizens of Zimbabwe. Furthermore, economic resilience must be strengthened through diversification and investment in key sectors.

As UZA, we’re committed to advocating for policies that promote stability and we are working to restore and strengthen Zimbabwe’s industrial and economic capacity.

This includes advocating for political stability and transparent economic strategies; encouraging investment; and capacitating entrepreneurs.

By working together, we can build a stronger, more stable future for Zimbabwe.

The leading opposition presidential candidate in last year’s harmonised elections, Nelson Chamisa, also condemned the introduction of the structured currency, saying “A bond note by another name will not fix our challenges.”

Chamisa said that the nation requires systematic political reforms rather than focusing solely on currency restructuring.

He pointed out that currency reforms in the past have been unsuccessful, and he cautioned that the ZiG currency is likely to face challenges due to underlying issues such as “broken politics,” disputed elections, and contested national processes.

More: Pindula News

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43 Comments

Akah🥷 · 11 months ago
🤣🤣🤣
Chicken 🐔 · 11 months ago
Haiwawo, Iko kuti Valerio kunomboreva chii. Ndevepi kwacho muZimbabwe
Viv · 11 months ago
Kuti chabhangu zvinomborevei Zimbabwe now ruled by force it's called looters continue, zanu captured everything to stay in power and steal everything whilst zanu supporters will wait for chicken on the next election rallies what a pity, support zanu a your own 's risk chihurumende chembava disguise as revolution party mazimba muchasvinura zvenyu mati madi
mtangadura · 11 months ago
Munenge muripi zvichiitwa Ana Veelarie torai basa racho maida hu president mazvifambisa sei daiwakapinda wasiya hama dzako here uchinongedzawo iniMakoni,? Makafanana kkkkkk
zig na Fifi · 11 months ago
same same takafanana takaora chipakati
Bob · 11 months ago
That's very true mamma
WV · 11 months ago
The multicurrency system begot mistrust towards our own local currency.. We simply dumped our Zim dollar and clutched to other currencies, but did that sway away inflation? Did that develop the country? It was not surprising that externalisation of forex then took centre stage and left our economy without much liquidity. We find in history that some countries eg Germany, Israel and Zambia once experienced currency challenges but did not opt for other currencies to save their situations. They continued to use their currencies until economic fundamentals made them strong.. So why can't we Zimbabwe take a leaf from those countries? Our other problem stems from colonial era when everything foreign was regarded as superior. We are still in colonial bondage. Better we free ourselves NOW! No wonder some of us still want whites from Europe and America to rule them.
. · 11 months ago
our problem pamari irikubva paprinting period!
🏴‍☠️🏴‍☠️ · 11 months ago
Saka blaz vane trousers re worksuit ne jersey re dembare ndivo ve presidential Guard?
laugh emoji1
Bhomora Zvekuti · 11 months ago
🤣🤣🤣 Women like Elizabeth Valerio need to fu.cked hard every night, zvinova dzikamisa. Hakuna mukadzi anotaurisa kana achibhagurwa every night nemurume wake
Gomoguru⛰ · 11 months ago
⛰🗻 Honestly being jobless has made me so stressed, sometimes I think kunwa doro will take the problems away but maya anongoramba aripo. Even vacho vane mari vanotoramba vachishupika becoz more money more problems. Worse for a rich man akaroora mukadzi anobva kuvarombo he will inherit ma problems akatadzwa kuitwa solved na Tezvara. I don't want to kill myself becoz mweya uri mandiri uchiri kuda kurarama. Zvinongorwadza kuti Zanu Pf haimbozvifunge kuti 32 year olds like me who are jobless and broke, hatitokwanise kana kuenda driving school kwacho futi. Ndinongonamata Mwari zvangu, I have tried applying for jobs but hapana kana, mwamwe ma companies acho they don't even pay much compared to labour yandinofanira kuzoita.
· 11 months ago
Tsvaka piritsi reGozho umwe
Zvichanaka Mwana wevhu · 11 months ago
Mwari anooona zvose, usarase tariro!
chamisa · 11 months ago
m**** ma zimbabwean ndimi munosapota zanu ****
chamisa · 11 months ago
m**** ma zimbabwean ndimi munosapota zanu ****
. · 11 months ago
problem is our currency does not trade outside Zim . if forex is stopped in the manner you speak shops could become empty like 2008. fuel would be found on the black market. the approach that you speak was the same approach that was there around 2008.
patz · 11 months ago
Chinoita kuti iite trade hunge paine chatinotengesa kunze kwenyika kwacho and demanding payment in that local currency. If you go and buy in South Africa they demand payment in their own Rand if you do not have they direct you to the bank to buy Rand using your USD that makes their currency stable and acceptable by other countries.
patz · 11 months ago
@. It was not done wholesomely and in good faith. It was tainted with greed and corruption. It was never applied in full. It was selective thats why vana Mary Mubaiwa vaingotora forex kuRBZ using political muscle abuse it in S.Africa. Kana Mary a mere wife of VP aikwanisa kuita izvozvo imagine the number of high probiles who were doing similar abuse.
. · 11 months ago
you will definitely chase away investors ,by that approach . kuita economics by ginya ,our currency has a bad history and you must strongly put that into account ,there is no trust in and outside Zim. mines with foreign investors and even local investors would lower production or stop. pliz fundamentals first before jumping into such desicions. That's probably why I've not heard any economist suggest that path.
patz · 11 months ago
@. Ko ku S.A hakuna nekuZambia our next doors hakuna ma investors here. Investors prefer a country with a stable economy/currency not an economy with chamelion type of lifestyle like ours.
patz · 11 months ago
@. 🤣🤣🤣🤣Why are a thinking Im not an economist suggesting this path you are hearing. All the same what achievements have been made by Mthuli himself since he became Minister if you believe what ecomists say is always the right thing
. · 11 months ago
S.A and Zambia, there is trust there , from local and foreign people. Their currencies have not been hit several times by what ours has been hit by. That kind of bitter history is something that cannot not be ignored unfortunately by the world of economics. TRUST is a major issue here. Your approach seems to want to force that trust upon people, which I don't think works in the world of economics. does your approach built trust?
. · 11 months ago
you are an economist? me ,I'm layman, sorry I assumed you are just like me. I have been following advice from many different economist s and financial experts around the world on the Zim situation,and your suggestion just seemed too weird and conflicting to me. Maybe it works. you should consider passing it along to the economy people -finance ministry,rbz .they might have not considered it .you might be sitting on brilliant ideas that could benefit all of us and not know the difference it could make of us as a nation
. · 11 months ago
@patz -you are an economist? me ,I'm layman, sorry I assumed you are just like me. I have been following advice from many different economist s and financial experts around the world on the Zim situation,and your suggestion just seemed too weird and conflicting to me. Maybe it works. you should consider passing it along to the economy people -finance ministry,rbz .they might have not considered it .you might be sitting on brilliant ideas that could benefit all of us and not know the difference it could make of us as a nation
patz · 11 months ago
Thats on point. Forex should be restricted to the Banks. Tourist should purchase local currency to book hotels. Duty should be paint in zim. Imports receipts should be paid for by RBZ after the importer pay for the receipts. All minerals should be exported by the RBZ. Miners should only sell minerals to gvt and get paid in local currency. All forex from the diaspora shoul be disbursed to beneficiaries in local currency. All services in Zim( gvt or private) should be charged in local currency. Gvt salaries and allowances should be in local currency from Mr Number 1 to the lowest civil servant as well as the private sector. Possession or use of forex should be crminalised and such forex forfeited to the State. Chinese and other nationals should have their investment money converted to local currency for local use. If Zig is used 100% and not selectively it would not surprise rate yawe ZiG 1 = USD 5 in the near future. We have the means to do so but we lack the implementers. South Africans know that the USD is stronger than the Rand but they 100% prefer their own Rand.
. · 11 months ago
imi matauriro enyu kunge vanhu vemutoriro akadhakwa kubva 1980 kusvika panguva yemabearer ndozvaiitika mubvunzo unofanira kuva pakuti why tasvika pakadai? asi $20 yenzou hamuizive?
@Wuto · 11 months ago
Hauoni here kuti ichembere iyi?
Handineyi · 11 months ago
Nazvo
BONDË · 11 months ago
hahaha Zera harina basa iwe, as long kana mbóro yake kana ichisimukira Eliza Valerio
Yoyoyo · 11 months ago
😁😁 Sweet yellow bone Elizabeth like Wiwi not tsito bone like Masigede black like dark ages
Muzeketwa · 11 months ago
Kana vachida zig kunongoda chibhanditi 1 Gadzirai chimari chenyu gedye gegye ne Us 2 Ban use of all other currencies 2 Itai all remittances dzichinjwe to Zig dzisati dzapihwa vanhu. Hakuna anopihwa US muno 3 Anyone ane Us kare muno should keep it mumba or change it 4 If diaspora ikadeepisa ikati hatichatumira Mari then vavanga vachida kutumira vacho havariwane. importation of fuel should only be done by noczim. Ana Victor vanenge vaakunzi vatenge mota through banks vasingapihwe Mari but vachibhadharirwa ne bank. Apa mese munenge musisazive kuti Zig maUs mangani. Hamuitengese. Muvanhu munenge muine few dzosara muhomwe mabva kunze. Airport tenge tiine ma scanner. Every Dhola rawauya naro should be converted to local currency ipapo ipapo Muono wangu
. · 11 months ago
shops could easily become empty ,like 2008
Black Mambazo · 11 months ago
muono wakadhakwa kwatova kutonga ne demo
tshabangu wezanu · 11 months ago
unofunga hre iwe muzeketwa
👽 · 11 months ago
Hanzi chabhangu kudyairira muri yezimbabwe, who voted chabhangu ,ZANU is the reason why things are difficult in Zimbabwe, chabhangu need to be jailed, Zimbabwe will be free when zanu is out of power
anonimasi · 11 months ago
aaah kkk
Bhuru · 11 months ago
That is public knowledge, what they did was just cutting zeros in a different way but whether bond/rtgs/zig it's all the same that is not where the problem is
Professor Mugano · 11 months ago
Kiti ikarara nemanhede haichinje kuita tsuro
laugh emoji1
ZIMBA🇿🇼Original · 11 months ago
Kamukadzi aka Kane noise
sad emoji1
Pasi ne Zanu · 11 months ago
Zanu zvaikunda taura zvako

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