Economist blames Robert Mugabe’s party for cash crisis

People sleep outside CABS Fourth Street branch on Thursday night. Pictures: Tapiwa Zivira

Harare – The current economic crisis in Zimbabwe is a result of Zanu-PF’s sole control of government after the end of the Government of National Unity (GNU), a senior economist said on Monday.

Godfrey Kanyenze, director of the Labour and Economic Research Institute of Zimbabwe (LEDRIZ ), told a Civil Society Organisations’ co-ordinating meeting on the introduction of bond notes that Zanu-PF had never made the economy an issue since they took over sole control of government in 2013.

“The economy was never on the centre of things. In fact the people were never a centre of discourse for Zanu-PF, the issue was always about power and succession. The rebound that we saw in 2009 started trending downwards,” he said.

He said people should not expend their energies on whether or not they wanted the bond notes, but rather deal with fundamental economic issues affecting the country like rampant corruption and warped policies.

“The issue is not so much about bond notes because they are just a symptom.They are just (a) desperate attempt at plugging holes that the government created as a result of fiscal indiscipline,” he said.

The LEDRIZ director said bond notes were never about export incentives, arguing that the denominations of $2 and $5 were proof they were not meant for exporters, but the general public.

He said the $200 million in bond notes that Reserve Bank Governor John Mangudya said was being printed was only three percent of the country’s liquidity and would not be able to resolve the crisis as the problems were much deeper.

Kanyenze said the current economy was structurally different from the economy of the GNU era. He said the economy had seen increased retrenchments and increased informalisation.

The country, he said, was too dependent on inputs, with the country recording $3.4 billion of exports compared to $6.2 billion imports, which he said was tantamount to creating jobs outside the country.


Share this:

Arts & Entertainment

54 Trackbacks & Pingbacks

  1. China’s growth ‘reassuring’ for ‘weak and vulnerable’ global economy: Xinhua – 263AfricaNews
  2. This year’s World Economic Forum in Davos will focus on the threat of right-wing populism for the first time ever – 263AfricaNews
  3. This year’s World Economic Forum in Davos will focus on the threat of right-wing populism for the first time ever - Zimbabwe Consolidated News
  4. How South Africa is really perceived by the continent - Zimbabwe Consolidated News
  5. Google
  6. domain names
  7. superior auto institute
  8. the watches exchange
  9. Dual Penetration Vibrator
  10. free download for windows 10
  11. free download for laptop pc
  12. free download for windows 10
  13. free full download for windows
  14. superior auto institute
  15. Quinceanera
  16. app download for windows 7
  17. best lion kona coffee
  18. Fixed ROM
  19. buy kona coffee
  20. oral vibrator
  21. miniclip
  22. extension sleeve
  23. menage a trois dp strap on
  24. work from home customer service
  25. Chaga Pilz
  26. Sell From Your Online Store
  27. Goodman
  28. best strap on
  29. mulvadi pure kona
  30. the rabbit sex toy
  31. dating advice
  32. adam and eve sex toy shop
  33. Buy installs
  34. sex toy review
  35. low carb diet plan
  36. how to shape your eyebrows
  37. Lovehoney
  38. Pleasure Vibrator
  39. relationship problems
  40. designer
  41. Download H12-211 Certification Dumps
  42. Mechanical keyboards
  43. backgammon game
  44. adam and eve sex toy
  45. clitorial vibrator
  46. adam and eve
  47. Buy Phentermine
  48. porn
  49. free download for windows 10
  50. pc apps for windows xp
  51. 福井脱毛
  52. Site showon: Invalid
  53. free work from home opportunities
  54. Ventura

Leave a Reply

Your email address will not be published.