Politburo embraces currency reforms

Politburo embraces currency reforms
Published: 27 June 2019 (108 Views)
THE ruling Zanu-PF Politburo has embraced currency reforms announced by Government on Monday, which saw the scrapping of the multi-currency system and adoption of a single domestic transactional unit, the Zimbabwe dollar, to enhance affordability of goods and spur economic growth.

Addressing journalists at Zanu-PF headquarters yesterday, the party's Secretary for Information and Publicity Simon Khaya Moyo said President Mnangagwa directed members to inform people across the country about the currency reforms.

Khaya Moyo said President Mnangagwa indicated that Government continues to deepen the economic reforms agenda across all the sectors of the economy.

"President Mnangagwa informed Politburo members that Government removed the multi-currency regime and restricted domestic transactions to the local currency, the Zimbabwe dollar, to enhance the affordability of goods and services by the majority.  

"The currency reforms were done through Statutory Instrument 142 of 2019," said Khaya Moyo.

Government introduced the Zimbabwe dollar after realising that the market was choosing to price most goods and services in US dollars when the majority of citizens were earning the local unit.

Khaya Moyo also said President Mnangagwa urged members to mobilise party members and to remain disciplined and focused.

He said the President called upon party members and the Government to ensure peace, unity and love in the country.

"The President also called on the party and Government not to tire in preaching peace, unity and love among the people, "His Excellency President Mnangagwa stressed that as the party leadership, we must be diligent, focusing on the people's most urgent problems and strive to resolve them," said Khaya Moyo.

President Mnangagwa also briefed the Politburo about the meeting of the recent launch of the Tripartite Negotiating Forum which seeks to enhance dialogue towards development of a social contract among Government, business and labour.

On the international relations front, the President stressed the need to continue with the engagement and re-engagement drive.


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