February 23, 2019

It’s true that Zimbabwe is launching a new currency: Lumumba backs Biti

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SOCIAL media influencer and ZANU-PF activist Acie Lumumba has backed MDC deputy national chairperson Tendai Biti’s claims that the Zimbabwe government is making a surprise launch of a new currency this week.

Biti, who chairs the Parliamentary Portfolio Committee on Public Accounts, early on Monday made the claims on his personal Twitter page.

“I can confirm its true! New local currency on the way, there is a condition of securing reserves in place but I can confirm to you. It’s coming.

“Prepare yourself. At best they will delay, most likely not,” Lumumba said ominously.

That was after Biti had sensationally claimed: “The regime will this week introduce a new Zimbabwe currency not backed by any #reserves & without the context of structural reforms which a prerequisite of currency reform . That move is pure undiluted #insanity . An unbanked currency is just the #bond note by another name.

“There is no country in the world that has involuntarily dollarized that has ever succeeded in de -dollarizing. Zim will not be the 1st .Whilst a currency is about fundamentals ,ultimately the most important fundamental is confidence There is absolutely no trust in this regime.

“Considering the #harm and #damage inflicted on this economy by its Central Bank over the years to now , the question to be posed is, does Zimbabwe really need a Central Bank? In my submission, it can and will do without one.”

Neither the Reserve Bank of Zimbabwe, nor the official government and Presidential spokespersons have commented on the reports. — ZOOMZimbabwe


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