Why Chinamasa is not bringing back the Zimdollar

Finance Minister Patrick Chinamasa said yesterday the multiple currency system was there to stay in Zimbabwe. He said the government could not bring back the Zimbabwe dollar because the conditions were not yet right.

According to a statement availed on NewZimbabwe.Com Chinamasa said the Zimbabwe dollar would only return when there is: sustainable economic growth; a sustainable current account position; industry competitiveness; sufficient international reserves without which the local currency will be under immense pressure; and restoration of confidence in the banking system and economy.

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Are we too poor or too stupid- Part Three?

Recent events in Zimbabwe beg us to ask this simple but powerful question. Are we too poor or are we too stupid? Why are we failing to find a solution to our problems? In 2008 former South African President Thabo Mbeki, at the cost of his own presidency, forced Zimbabwe’s political leaders to sit down and talk and they reached an agreement- though flawed- and Zimbabwe came back on track.  Does Zimbabwe need an outsider to tell it again what to do? Here is the third part of  my long essay which is also available as an ebook.

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Can African learn anything from the World Cup?

This article by Project Syndicate was aimed at Europe and was entitled: Soccer Lessons  for Europe’s Economy. But going through it, I felt that Africa, and Zimbabwe in particular, could learn something by looking at how Germany made it to the World Cup and beat hosts Brazil and Argentina which had the best player in the world.

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Poser for Zimbabwe: Is beneficiation the answer?

Poor countries export raw materials such as cocoa, iron ore, and raw diamonds. Rich countries export – often to those same poor countries – more complex products such as chocolate, cars, and jewels. If poor countries want to get rich, they should stop exporting their resources in raw form and concentrate on adding value to them. Otherwise, rich countries will get the lion’s share of the value and all of the good jobs.

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