Zimbabwe minister dismayed by lack of confidence in the local currency among legislators

HON. SEN. ENG. MUDZURI:  I did not say that I have no confidence in the local currency.  I was speaking of the run-away in the exchange rate and I asked how it can be stopped.  I think what we would want to hear is how we can resolve it.  When there are a number of measures that are not getting to a solution, we have the right to ask Government.  The majority of people cannot access foreign currency on the auction market.  If you want to buy fuel, service stations charge in foreign currency.  If you tell me that there is a service station that is charging in local currency, I will be happy to go there.  These are the measures that I am asking about.  I do not expect you to tell me that I do not have confidence in my currency.  What I am simply asking are the measures that the Government is putting in place to try to put an end to this.

HON. ZIYAMBI:  Thank you Madam President.  I am very happy if that was the thrust. My apologies if I misrepresented what you said.  That is exactly what we want to do as a nation and say, let us find solutions Madam President to ensure that we preserve the value of our currency.  That is exactly what the Reserve Bank and the Ministry of Finance are trying to do.  They came up with measures in January on how to deal with it.  I believe that all of us as citizens must run behind that and if we have any ideas on how to reign in errant people who are manipulating the system, let us all come up with solutions so that we preserve the value of our currency.  My apologies if I misrepresented you.  What you said in the end is what we aspire to do as a Government, to ensure that we run the nation behind our currency and ensure that we preserve its value.  We want each and every person to have confidence in our currency as opposed to have this notion that having foreign currency will develop our country.  That should not be the case.  I thank you Madam President.

(272 VIEWS)