Breaking News

Zimbabwe to have its own currency in 12 months

by Mandla Ndlovu
11 January 2019 | 4234 Views
Zimbabwe should brace itself for its own currency within the next 12 months the Minister of Finance and Economic Development Mthuli Ncube said.

He was speaking at a Town Hall meeting with organized by Global Shapers Community Harare Hub at Celebration Centre. He says he is contemplating easing taxes in the next 2/3 years

"We should be close on currency reforms. It will happen by stealth because we can't. Currency reforms started October 2018 but we didn't have fiscal discipline in place. We won't capitulate to the US$ but have currency reforms. We are less the 12 months away from currency reforms." Mthuli Ncube said.

He also revealed that he is comfortable with the fiscal side in austerity measures and will be easing taxes in the next 3 years.

"I'm now comfortable with the fiscal side in austerity measures. I even contemplate easing taxes in the next 2 to 3 years. We can't have austerity forever. What's left now is the heavy weight lifting on the monetary policy side. Dollarization would be capitulation. We need own currency"

During question and answer session one young man stood up and told the minister that the young people no longer trust him because he is failing to give answers to pertinent questions.




"Minister we don't trust you. You are not answering questions pertaining to fuel shortages, health difficulties, high fees, currency shortages. Do something that can make we the youth to trust you," he charged.

"As of yesterday another $20m for 44 million litres was released. There are lot of distortions in the fuel market. Currency reforms, currency reforms, currency reforms, pricing and dealing with forex shortages which are affecting fuel availability." Ncube responded.

Commenting on Ncube's announcement for new currency journalist Nqaba Matshazi said, "This creates expectations and leads to desperation to offload bond and RTGS like what happened in October."



Mthuli Ncube Global Shapers Zim currency

Source: Byo24News

Comments

Latest News

Rocks from mountain crush huts in Zimbabwe

by City Press | 24 March 2019 | 1421 Views

'Tax reforms to rescue debt-distressed Zimbabwe'

by Staff reporter | 24 March 2019 | 469 Views

Afreximbank grants Zimbabwe interbank forex trade loan

by Staff reporter | 24 March 2019 | 562 Views

Zimbabwe volcano fears - The Civil Protection Department (CPD) in Masv...

by Staff reporter | 24 March 2019 | 2075 Views

Mnangagwa goes Biblical: 'Zimbabwe accepts will of God'

by Staff reporter | 24 March 2019 | 870 Views

Open letter to President Mnangagwa

by Viniel Deredza | 24 March 2019 | 688 Views

Warriors ease into Afcon finals

by SuperSport | 24 March 2019 | 475 Views

Rights Commission finalising probe into Zimbabwe army crackdown - THE ...

by Staff reporter | 24 March 2019 | 128 Views

3 lawyers banned from practising - THREE lawyers have been banned from...

by Staff reporter | 24 March 2019 | 472 Views

Jabulani Sibanda to bounce back?

by Staff reporter | 24 March 2019 | 627 Views

Questions over Mnangagwa's choice of advisors - ON three occasions, Pr...

by Staff reporter | 24 March 2019 | 190 Views

Potraz board okays tariff increases

by Staff reporter | 24 March 2019 | 165 Views

Horror Cyclone destruction trail unravels - THE human toll of Cyclone ...

by Staff reporter | 24 March 2019 | 106 Views

LIVE: Zimbabwe vs Congo Brazzaville

by Staff reporter | 24 March 2019 | 3394 Views

Zimbabwe debt should be audited - ZIMBABWE should not rush to pay its ...

by John Kachembere | 24 March 2019 | 786 Views

Zimbabwean couple hijacked in Durban, wife missing since Monday - A Zi...

by Staff reporter | 24 March 2019 | 3618 Views

Mnangagwa's days numbered

by Staff repo | 24 March 2019 | 7600 Views

Zimbabwean man dies during sex with SA mistress - A  67- year-old...

by Staff reporter | 24 March 2019 | 3453 Views

Zimbabwean company donates laptops to needy SA varsity students - Zoro...

by African News Agency (ANA) | 24 March 2019 | 1002 Views

Gweru prophet sets up school of spiritual gifts - Gweru-born Prophet G...

by Staff reporter | 24 March 2019 | 461 Views

Potraz brings toll free platforms to rural folk

by Staff reporter | 24 March 2019 | 159 Views

Mnangagwa pledges support for Gukurahundi victims

by Staff reporter | 24 March 2019 | 377 Views

Zimbabwe banks must support the interbank trading - THE interbank mark...

by Andrew Lampard | 24 March 2019 | 258 Views

Robbing the poor in the name of patriotism - The post-Robert Mugabe ad...

by Tawanda Majoni | 24 March 2019 | 209 Views

'Using Air Zimbabwe will pose logistical problems for Mnangagwa' - Dep...

by Staff reporter | 24 March 2019 | 388 Views

Entertainment

Andy Muridzo promises new album

by Simbarashe Sithole | 18 March 2019 | 308 Views

Kwejani band is back! - AFTER an eight-year hiatus, Victoria Falls' su...

by Staff reporter | 13 March 2019 | 1189 Views

Moyo revives Pantsula genre

by Staff reporter | 10 March 2019 | 430 Views

Majaivana's sad farewell

by Bruce Ndlovu | 10 March 2019 | 6747 Views

Nceku shifts base to SA

by Staff reporter | 09 March 2019 | 826 Views

Baba Harare abandoned by band members - Jit musician, Baba Harare has ...

by Staff reporter | 04 March 2019 | 2050 Views

Winky D pays the price

by Staff reporter | 03 March 2019 | 5482 Views