Political journalist Hopewell Chin’ono condemned the use police to protect RBZ’s 10 days old baby (ZiG currency).
In a Twitter post extracted by newsreportzim.com, the multiple award winner journalist Hopewell wrote the following:
“This is the headline in Zimbabwe’s biggest daily newspaper, which is state-run.”
“When a government uses the police to protect a currency, it means they have already lost the confidence and trust battle with the citizens!”
“Economics doesn’t need sjamboks to stabilize a currency; it only needs the policy fundamentals to be right!”
“The very act of announcing this measure of using police to protect a currency actually weakens the currency!”
“Instead of relying on police enforcement, the government should focus on addressing the underlying economic issues to stabilize the currency.”
“Sound economic policies are the key to maintaining a strong and stable currency.”
This comes after the government has announced plans to deploy law enforcement agents to apprehend illegal money changers who are reportedly manipulating the newly introduced Zimbabwe Gold (ZiG) currency.
ZiG, already circulating electronically, has witnessed a significant surge in its street exchange rate, reaching approximately ZiG18 per US dollar. This surpasses the official rate set at ZiG13.41 per dollar.
Source Newsreportzim.com
