Bring Back The USD, Biti Tells Govt
Opposition MDC Vice President Tendai Biti has called on the government to restore the US dollar use in the country saying the Zimbabwean dollar has all worsened the country’s economic situation.
This follows the recent introduction of the Zimbabwean dollar to replace the multi-currency system introduced in 2009.
Biti told party members and other invited guests who attended the launch of the party’s alternative economic policy titled Road to Economic Recovery, Legitimacy Openness And Democracy (RELOAD) that the phasing out of the US dollars will only awaken the ghost which haunted the country to abandon its currency in 2009.
“The people of Zimbabwe declared a vote of no confidence in the Zimbabwean dollar, which was then known as the bearer cheque. As far as I know, once a currency has been caught in flagrante then it can never come back.
“In the short, the MDC proposes the re-dollarization of the Zimbabwean economy. We have to bring the USD back as the simple solution to this crisis,” said the former Finance Minister.
To do this, Biti further stated, the country has to be productive by having functional industries. He said the party will also address the Supply side reforms as an alternative government.
The tongue lashing Biti said the President Emmerson Mnangagwa regime has miraculously failed to turn around the fortunes of the country through its poor policies.
“Zanu-PF deserves to be in the Guinness Book of record for failure. Where we were in 2008 is impossible to get, but you have to be so poor. But this government has that in just 10 years, that is a miracle of failure,” Biti lashed.
There has been a public outcry over the coming back of the Zim Dollar with skeptics predicting a further collapse of the economy, akin to what the country witnessed between 2006-2009 before the dollarization phase brought about by the Government of National Unity.