Where on earth have gold coins been used and have they worked, Zimbabwe Senator asks?

Information Minister Monica Mutsvangwa who is also leader of government business in the Senate was yesterday taken to task to explain how the introduction of gold coins in the country would benefit ordinary Zimbabweans.

Senator Morgen Komichi even asked where on earth gold coins had been used and whether this had benefitted anyone.

“In Zimbabwe, how does the gold coin approach serve the challenges that are being faced by the civil servants, public servants and ordinary gogo, mbuya, grandma who is in Gokwe and Mberengwa? How do they benefit out of this approach, if ever it is an approach that is required to resolve the economic quagmire we are in Zimbabwe?” he asked.

Mutsvangwa said the gold coins were meant to provide a product for the store of value and to strengthen the local currency.

Following more questions about how ordinary Zimbabweans would benefit, Deputy President of the Senate Mike Nyambuya said the best approach was to invite Finance Minister to make a statement and he should do so at the next sitting.

“I want to make a statement that we need the Minister of Finance to come and address the Senate about these issues. This has been outstanding for a long time and I will make sure that we write to the Minister and the next sitting which we have, the Minister of Finance must come and explain these developments and issues which the Hon. Members are raising,” Nyambuya said.

“It is unfair to ask some of the details which you are asking the Minister of Information, not that you have not done well Minister, you have done extremely well.”

Full Q & A:

HON. SEN. KOMICHI: Thank you Mr. President. The Zimbabwean economy has caused so much pain among its citizens. The Zimbabwean dollar continues to lose value and ordinary people are really suffering. In order to control this situation, the Government introduced the gold coins. Many people do not understand how the gold coins work. Where on earth has this approach been used and has it benefitted anyone? In Zimbabwe, how does the gold coin approach serve the challenges that are being faced by the civil servants, public servants and ordinary gogo, mbuya, grandma who is in Gokwe and Mberengwa? How do they benefit out of this approach, if ever it is an approach that is required to resolve the economic quagmire we are in Zimbabwe? The question is directed to the Leader of the House.

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