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The Zimbabwean central bank, The Reserve Bank has introduced a Statutory Instrument which outlaws the use of all foreign currencies as legal tender in the country. It also reintroduced the Zimbabwean dollar which has been pegged at par with the quasi-currency, the Real Time Gross Settlement (RTGS) dollar.
Zimbabweans have been expressing their views and feelings on the move. One of those to have made their views clear is <a href="https://twitter.com/lilomatic/status/1143152304343920640" rel="noopener noreferrer" target="_blank">Linda Masarira</a>, the leader of the <a href="https://zero.pindula.co.zw/linda-masarira-forms-new-political-party-lead/" rel="noopener noreferrer" target="_blank">Labour, Economists and African Democrats (LEAD)</a>. She tweeted:
<blockquote>This is a step in the right direction, it will hurt those who sabotaging the economy and involved in money laundering. I applaud the government of Zimbabwe for making this unpopular move which will definitely save Zimbabweans from market distortions which had made life unbearable</blockquote>
A USA based legal expert, <a href="https://www.bigsr.co.uk/single-post/2019/06/24/BSR-Return-of-the-Zimbabwe-Dollar" rel="noopener noreferrer" target="_blank">Alex T Magaisa</a> had his say on the “dramatic return of the Zimbabwe dollar”. He says that despite the fact that the SI looks as if it was designed by people in a panic mode, it remains factual to say that Zimbabwe now has a new currency.
Magaisa added that the Zimbabwe dollar did not collapse in 2008 because the government declared that the use of a multicurrency system was now legal but because the market no longer had faith in it as a currency. He said that although one may expect the printing of new notes, the RTGS dollar (bond, electronic money) was renamed the Zimbabwean dollar. He added:
<blockquote>Will a government declaration of its return as legal tender convince the market to have faith in it? It’s a long shot but this is the challenge that the government has to overcome. After all, trust is a critical element of money. And trust in the political authority issuing that money is fundamental.</blockquote>
Magaisa observes, like this publication, that the reintroduction of the Zimbabwe Dollar is an ambush on the market which expected that the new currency will be introduced at least at the year-end.
One Twitter account, <a href="https://twitter.com/HillaryMusarurw/status/1143158490019586048" rel="noopener noreferrer" target="_blank">Hillary Musarurwa</a> posted:
<blockquote>“Zimbabwe to introduce a new currency in 9 months time.” It seems the regime’s 9 months is a weekend long.</blockquote>
This was a response to a tweet by <a href="https://twitter.com/tazmus982/status/1143155443281346560" rel="noopener noreferrer" target="_blank">Adv TTG Musarurwa</a> who had said:
<blockquote>These tactics of introducing a currency in the dead of the night only serve to decrease confidence in your policies. Confidence, like respect, is earned, not legislated. There will soon be no money in the banks save for whatever you want to call that which you want to pay civil s</blockquote>
MDC Secretary for Education, advocate Fadzayi Mahere has said that policy inconsistency by the government is making it difficult to have long term plans or investments.
More to follow at <a href="https://zero.pindula.co.zw/" rel="noopener noreferrer" target="_blank">news.pindula.co.zw</a>

Pindula News

Responses To Reintroduction Of Zim Dollar & Ban Of All Foreign Currencies

In the latest edition of the Big Saturday Read, academic and Constitutional law expert Alex Magaisa urged politicians not to use sites of suffering for political mileage.
Magaisa also urged the release of names of the victims that perished due to Cyclone Idai instead of just numbers. He also argues politicians should have used the tragedy to unite for Zimbabwe. Part of Magaisa’s article reads:
<blockquote>Politicians have to understand that disaster tourism is unacceptable. Sites of suffering are not occasions for political fighting and grandstanding. They are sites of work and taking responsibility; acknowledgment that we have failed the people and we are sorry. They are not sites to visit for one day, for photo opportunities and pontificating to claim political capital. These are real people; real lives that deserve to be treated with dignity…Even the declaration of two days of national mourning appears to have been an after-thought. The politicians could have used this tragedy to find convergence. There is still a chance for them to do so. If such a great tragedy cannot cause them to look at the bigger picture, I don’t know what else can.</blockquote>
More: <a href="https://www.bigsr.co.uk/single-post/2019/03/22/Big-Saturday-Read-Cyclone-IDAI-What-were-their-names">BSR</a>

Magaisa Urges Politicians Not To Use Disasters For Publicity

Constitutional law expert and academic, Alex T. Magaisa says that the reason why the “Mafikizolos” or newcomers within the ranks of the ruling elite are overzealous is that they want to be accepted by the longstanding regime members. Said Magaisa:
<blockquote>Some wonder why some elites who have joined the regime have become more obnoxious towards the opposition than even longstanding regime members. It’s partly the need to expunge a mental debt they think they owe to the authoritarian regime. They must buy acceptance and trust.
Hence it becomes their singular mission and preoccupation to throw everything at the opposition even to the point of ridiculousness. They don’t know it but longstanding members of authoritarian regimes view this behaviour with a mixture of disdain, ridicule and amusement.
The longstanding regime members aren’t stupid when it comes to matters of power. They know exactly why these elites behave in that manner. Hence privately, longstanding regime members laugh at the overzealousness of the new passengers trying to fit into the gravy train.
The system will throw crumbs at them, giving them high sounding roles which are ultimately peripheral and insignificant. The actual power roles are reserved for longstanding proven loyalists. That’s why ED ignored recommendations of the Prosecutor General and chose his own man.
Paulo Freire explains this behaviour: “it is a rare peasant who, once “promoted” to an overseer, does not become more of a tyrant towards his former comrades than the owner himself”. I don’t think people should worry over the rants directed at the opposition and its leadership.</blockquote>
<h4>Related:</h4>
<ul>
<li class="entry-title">
<h4><a href="https://news.pindula.co.zw/2019/02/20/full-thread-rtgs-dollar-a-precursor-of-a-physical-local-currency-magaisa/">FULL THREAD: RTGS Dollar A Precursor Of A Physical Local Currency – Magaisa</a></h4>
</li>
</ul>

FULL THREAD: ZANU PF "Mafikizolos'" Rants Should Not Worry Opposition - Magaisa

Constitutional law expert and academic, Alex T. Magaisa says that the success of today’s monetary policy statement (MPS) will depend on how much business and the public trust Reserve Bank of Zimbabwe governor John Mangudya and Finance Minister Myhuli Ncube. <a href="https://twitter.com/Wamagaisa/status/1098168323387334662">Wrote</a> Magaisa:
<blockquote>Money is one of the myths or imagined realities the success of which according to Yuval Harari, depends on the numbers that believe in it. Like all myths, it has to be persuasive enough to draw wider belief. This is the task that awaits the Zimbabwean monetary authorities today.
Myths or imagined realities matter because they provide points of large-scale cooperation. The myth of money facilitates the exchange of goods and services. But people must have faith in it. It must be believable. But those who weave the myths must command trust.
The myth-makers of our monetary policy are John Mangundya, Mthuli Ncube, led by Mnangagwa and his government. The success of their myth will also depend on how much they can be trusted, among other factors. For more on Harari and myths read Sapiens – A Brief History of Humankind.</blockquote>
<h4>Read Also:</h4>
<ul>
<li class="entry-title">
<h4><a href="https://news.pindula.co.zw/2019/01/31/magaisa-slams-mnangagwa-for-not-consulting-presidential-advisory-council-appointees/">Magaisa Slams Mnangagwa For Not Consulting Presidential Advisory Council Appointees,</a></h4>
</li>
</ul>

Success Of Mangudya's MPS Depends On How Much He Can Be Trusted - Magaisa

The helicopter that crashed in Masvingo is said to have been an ageing plane given to former President Robert Mugabe as a gift by the South African Defence Forces. This was revealed by renowned academic and law expert Alex T. Magaisa. In a series of tweets on his page, Magaisa had this to say,
<blockquote>… Further to the earlier thread, more data indicates it was indeed a military chopper ferrying the Permanent Secretary for Defence &amp; fellow guests to a graduation jamboree for an Under-Secretary in the Defence Ministry. Clearly a personal affair &amp; unconnected to state business.
Apparently, following the crash-landing of this chopper, another chopper was scrambled to the venue to take the elites back to Harare. And we have our Finance Minister @MthuliNcube preaching austerity. Besides, the Constitution prohibits personal use of state assets like this.
ZBCNewsonline tells us a helicopter had an emergency landing yesterday. Among the passengers was the Permanent Secretary for Defence. The broadcaster doesn’t tell us the owner or operator but a convergence of factors suggests it is a military chopper. I did a bit of digging.
The chopper is described as an Alloette III manufactured by the French decades ago. Earlier this year, the French Navy retired its fleet because they were antiquated &amp; costly to maintain. This should give us some picture as to the age and state of this chopper.
It gets worse: a few years ago, the Mail &amp; Guardian reported that the South African Defence Forces had disposed of its Alouette IIIs and guess where the old birds ended up? Zimbabwe. Described as a “gift” to Mugabe. It’s possible that this troubled chopper was one of them
The passengers, including the Permanent Secretary for Defence, are fortunate to have escaped fatal consequences on this occasion. But one thing is certain: the incident won’t have escaped the attention of bigger chefs who like to use military aircraft.
The political &amp; military elites will certainly think twice before they take the next ride! Although I wouldn’t be surprised if some will be encouraging them to use them more often!</blockquote>
<h2>Related:</h2>
<h3 class="entry-title"><a href="https://news.pindula.co.zw/2018/12/30/air-force-of-zimbabwe-helicopter-crashes-in-gutu/">Air Force Of Zimbabwe Helicopter Crashes In Gutu</a></h3>
<h3>More: <a href="https://twitter.com/Wamagaisa/status/1079419202627342336">Twitter</a></h3>

Crash-Landing Military Chopper Was A Gift From South Africa To Mugabe - Political Analyst

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