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Zim: ‘Adopt The Rand Or Reintroduce The Zimbabwean Dollar’ – Economist Tells Mnangagwa’s Government

Terrence Mawawa , A leading economic expert has advised the Emmerson Mnangagwa led government to adopt the South African Rand or reintroduce the Zimbabwean Dollar to speed up economic recovery.

Mnangagwa’ s litmus test is the revival of the country’ s comatose economy, according to political analysts.

University of Zimbabwe Economics Professor and Senior Advisor of the Strategic Economic Research Programme, Ashok Chakravarti has advised the government to either adopt the South African Rand or reintroduce the Zimbabwean Dollar.

Chakravarti’ s argument is that that the foreign currency crisis and the cash woes cannot be resolved while using the United States dollars.

“We cannot have a new economic order sustained by someone else’s currency, so we need our own currency, and there are two solutions to it of which one is to adopt the currency of our main trading partner, which in our case is South Africa. We have to adopt the rand informally – the same way we adopted the US dollar in 2009.

The second solution is to have our own currency, and the question is how then are we going to maintain the value of the Zimbabwean Dollar?

My proposal is that we have to come up with comprehensive measures that can back the new Zimbabwean currency,” said Chakravarti.

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