Mthuli Ncube has disclose that police in Zimbabwe will soon conduct a blitz on black market traders who are exploiting , Zimbabwe Gold (ZiG).
The government introduced the local to tackle sky-high inflation and stabilize the country’s long-floundering economy.
Few days ago ,John Mushayavanhu (RBZ) governor, recently announced the introduction of the Monetary Policy Statement and a new currency backed by gold.
However, concerns have been raised by legislators that criticized new ZiG currency as it has already entered the market that is already distorted. Prices of certain commodities have already rised like Sugar.
Finance Minister Mthuli Ncube has made it known that the new currency is being manipulated by street vendors and money changers after bond notes were said to be phased out end of month, 30 April.The enforcement agents will curb the violaters of ZIG and to take measures against black market traders
The blitz will deal with vendors and clear them of the streets . Heavy penalties are imposed on those caught trading in the black market. He urged that what ever is illegal is illegal and should be dealt with said Finance Minister Mthuli Ncube.
He guaranteed that ZiG notes and coins set to be released into circulation after April 30.
Source iHarare
