Zimbabwe Finance Minister asked to explain RTGS dollar to rural people


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Zimbabwe Finance Minister Mthuli Ncube, who has been under pressure to redollarise as the country’s local currency the RTGS dollar continues to fall against the greenback with prices rising almost daily, was yesterday asked to explain what RTGS meant because most people in the rural areas did not know the meaning of the term.

Senator Ndlovu asked Ncube if it was feasible to translate RTGS into indigenous languages so that people could understand what it is.

Ncube said there was no need to explain RTGS in indigenous languages.

“I thank the Hon. Sen. for the question.  I also understand that this word is also just quite big, it needs to be explained.  However, there is no need for us to explain it in indigenous languages.  Real Time Settlement System (RTGS) is actually our dollar.  You just tell the people that RTGS is our dollar, just that.  They can pay through ecocash, swipe and others may use the bond.  The bond and RTGS are equal.  This is our position as government.  There is no need for us to explain that in indigenous languages, it is just our dollar.” He said.

Q &A:

HON. SEN. P. NDLOVU: I thank you Madam President.  My question is directed to the Minister of Finance and Economic Development. Are you aware that people do not know the meaning of the term RTGS in the rural areas? Is it feasible for you to translate that into indigenous languages so that people understand what RTGS is?  I thank you.

HON. PROF. M. NCUBE: Madam President of the Senate, thank you.  I thank the Hon. Sen. for the question.  I also understand that this word is also just quite big, it needs to be explained.  However, there is no need for us to explain it in indigenous languages.  Real Time Settlement System (RTGS) is actually our dollar.  You just tell the people that RTGS is our dollar, just that.  They can pay through ecocash, swipe and others may use the bond.  The bond and RTGS are equal.  This is our position as Government.  There is no need for us to explain that in indigenous languages, it is just our dollar – [HON. SENATORS: Hear, hear.] – I thank you Madam President.

(138 VIEWS)

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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