Mnangagwa’s recipe for ending Zimbabwe’s cash crisis

*HON. CHAMISA:  Madam Speaker I have been touched by the words stated by the Vice President and Minister of Justice, Legal and Parliamentary Affairs.  The question which has been asked by Hon. Mpariwa is we are not talking about the amount which we do not have but we are talking about the available cash in Zimbabwe. When we are talking about money, we are talking about money which has been invested or banked in financial institution such as banks.  We are not talking about money which is earned by the country through foreign direct investments or getting from the diaspora.  People have banked their money in these financial institutions but they cannot access that money.  What has happened to that money?  People go to the banks because they will have banked with those institutions.

*THE HON. VICE PRESIDENT (HON. MNANGAGWA):  I clearly understand what the Hon. Member is saying.  First and foremost, I am the leader of the House and the second aspect is that I have heard financial institutions saying when money is banked and then put into circulation some of the notes are torn, hence they want to disburse clean and intact banknotes and not tattered notes.  Also when we have received money through the four ways which I stated, that is the money which is used by Government and business people to go and import goods for the smooth running of the country. 

As Government, we also access the money that you bank for the development of the country.  So, we are saying the economy of the country is based on the available resources and at the moment we have inadequate financial support.  Stemming from that, we have great thinkers who have suggested that as Zimbabwe, we should not use FDI to buy things like matohwe but to introduce a new monetary system such as the bond notes, which are supported by US$200 million, which will never be exported but used in the country only.  Therefore we will not run short of money.

See also:

Mnangagwa best person to steer Zimbabwe out its economic crisis says British think-tank

Odds favour Mnangagwa to succeed Mugabe- UK publication

Mnangagwa according the Wikileaks cables – Final with all 194 cables

What Mnangagwa told Parliament about corruption, Mphoko and Jonathan Moyo

Does the UK favour Mnangagwa over Mugabe and Chamisa over Tsvangirai?

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