MDC-T Shadow Minister of Finance says Zimbabwe should adopt Rand to get out of current cash crisis

He urged legislators rise above partisan lines to make sure that they move the country forward.

“Yes, we can overcome sanctions if we address our own fundamentals that we control. This country is not run by America, and is not run by Britain.  We control agriculture. We control our mining.  Let us work on the variables that we control and not to always cry foul – you see.  What have we done to the things that we can control? The peace dividend – our natural resources endowment, all those things, are things we can leverage as a country before looking at exogenous factors like the sanctions.

“ We need to engulf everybody so that we focus on the solutions; we need to deal with corruption.  Corruption is a cancer. You do not need sanctions to deal with corruption. Look at what is happening in NetOne; these parastatals are milking the economy.  These are the things we can deal with on our own to make sure that we address the challenges that we are facing,” he said.

Full contribution

SHORTAGE OF CASH IN ZIMBABWE BANKS

 HON. DR. MASHAKADA: Madam Speaker, I move the motion standing in my name that this House:

CONCERNED by the shortage of cash in Zimbabwe banks which has plunged the financial sector into turmoil;

 FURTHER concerned by the lack of knowledge by the general public on the proposed introduction of bond notes and their impact on the liquidity situation;

WORRIED that the cash crisis could only be a symptom of a deeper economic crisis;

FURTHER worried that the cash shortages are inconveniencing, general members of the public including firms;

NOW, THEREFORE, calls upon government to;

(a) De – dollarize and adopt the rand as the anchor currency; and

(b)Address the fundamental structural causes of the financial and economic crisis engulfing Zimbabwe.

HON. CHIMANIKIRE: I second.

 HON. DR. MASHAKADA: If I might ask your indulgence for my presentation to be beamed on the screens. I have put my presentation on PowerPoint because there are some graphics I wish to share with Hon. Members.

It is no longer a secret that the economy is not doing well. It is not a secret that our banking system is running out of cash. It is not a secret that the economy is imploding. In fact, we do not need a rocket scientist to remind us that our economy is not doing well. We are living in this economy and we are experiencing the hardships in the economy. Of late, we have gone through a very difficult period of financial crisis characterised by shortages of cash in the banks.

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