Zimbabwe dollar coming back

The Zimbabwe dollar is coming back, probably sooner than most people think. And central bank governor, Gideon Gono, may have nothing to do with its return, because he has now only five months in office as he is completing his second and final term this year.

Not only is the dollar coming back but it will compete with, and might even be stronger than, the region’s dominant currencies, the South African rand and the Botswana pula.

Zimbabwe African National Union-Patriotic Front leader Robert Mugabe announced at the launch of his party manifesto that the dollar will come back as a gold-backed currency.

Finance Minister and Movement for Democratic Change secretary-general Tendai Biti brushed this off as undiluted rubbish.

“It is bad enough to suggest the return of the Zim dollar at this present moment in time but foolish to the point of insanity to suggest in this century a bullion backed currency,” he said.

Gono also had to chip in: “As monetary authorities, we advise that as per the announcement by His Excellency President RG Mugabe, the re-introduction of a local currency is rather a medium to long term aspiration than an immediate, near-term agenda item on our radar as the central bank.

“Essentially, it is every country’s desire to have its own currency in order to avail potent policy options to policy makers, and Zimbabwe is no exception in this case. This notwithstanding, the re-introduction of a local currency requires that (certain) preconditions be met, which pre-conditions His Excellency the President clearly outlined on the subject.”

The return of the Zimbabwe dollar may have nothing to do with the politicians. God just wants to prove to Zimbabwe that that country will never go to the dogs because a Man of God was born and died in that country.

The fate of the Zimbabwe dollar was prophecised even before it was phased out when the Zion Christian Church began constructing its mammoth temple at Mbungo which accommodates up to 18 000 under one roof.

The church, whose construction started in 2005, is now, however now too small for its congregation.

The church was officially opened by President Robert Mugabe in April 2011, nearly six years after construction began.

It was entirely funded by members of the church without any outside help.

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