Sunday, 9 December 2018

Nelson Chamisa's Government Would Join Rand Union

Movement for Democratic Change (MDC) wants the country to join the Common Monetary Area in a bid to settle long-standing liquidity challenges and a forex crunch that has plunged the economy into decline.

"Our long-term plan (to deal with a current liquidity crunch) is to join the rand monetary union," Tendai Biti told the MDC and its alliance partners in Harare yesterday.
Nelson Chamisa's Government Would Join Rand Union
President Emmerson Mnangagwa's government has rejected calls by the Confederation of Zimbabwe Industries and other producers for Zimbabwe to adopt official usage of the rand, despite the fact that the country is reliant on South Africa, its biggest trade partner, for most of its raw materials, equipment and finished products.

Biti, a former finance minister, criticised the incumbent, Patrick Chinamasa, for failing to turn around the economy.

Source - ZimLive

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