Another spike in prices is looming as government is reportedly planning on floating the ZImdollar and liberalize the official exchange rate.
MDC Alliance vice president Tendai Biti has made these revelations exposing how this will adversely affect the prices as the rate for US$1 would rise to 40 for the bond.
Tendai Biti says, “The regime wants to immediately float the bond note & liberalize the exchange rate. This move will result in a serious spike of the US$ of up to 1:40. Prices will shoot up & a fresh bout of shortages of will be triggered. ”
Tendai Biti implies that the only solution to avert such a catastrophe is to repeal statutory instrument SI 142 and reintroduce the multi-currency regime since the economy has already dollarized.
“Our advice to the regime, stop gimmicks, just repeal SI 142”, says Biti.
Relatively, David Coltart, MDC’s Secretary General torched a storm when he called Mthuli Ncube, Mangudya and Mnangagwa the 3 blind mice stating how the bond has lost value according to the Old Mutual Implied Rate which he says stands at 1:40.62.
This is a racist tweet by a known racist David Coltart which he must take down. He is taking it too far. pic.twitter.com/URrPLLOPjU
— mmatigari (@matigary) February 13, 2020
Zimbabwe is indeed headed for another crisis.