Disequilibrium – 6 Toros 6 http://6toros6.com/ Wed, 29 Jun 2022 03:03:38 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://6toros6.com/wp-content/uploads/2021/05/cropped-icon-32x32.png Disequilibrium – 6 Toros 6 http://6toros6.com/ 32 32 Zimbabwe: CCC downplays latest government economic measures https://6toros6.com/zimbabwe-ccc-downplays-latest-government-economic-measures/ Tue, 28 Jun 2022 13:35:05 +0000 https://6toros6.com/zimbabwe-ccc-downplays-latest-government-economic-measures/

In a statement, CCC national spokesperson Fadzayi Mahere said more was needed to deal with the current crisis.

“The major policy interventions announced by Minister Ncube are a reiteration of policies that already exist and have failed to curb hyperinflation and stabilize prices. Unfortunately, the measures announced today do not have the capacity to turn the faltering fortunes of the Zimbabwean economy.” of the multi-currency system and the interbank market into law is not new.

“The legal framework for these old systems already exists. It will take more (including building confidence and addressing macroeconomic fundamentals) than changing the wording of legislation to combat hyperinflation and stabilize prices. In In his statement, Minister Ncube rightly acknowledged that the economy suffers from a lack of confidence.

“Trust and trust are fragile. Once lost, they are difficult to restore. Unfortunately, previous experiences have made the market paranoid and very little has been done to regain that trust. In this regard, we have always maintained that the social contract between the state and the citizens of Zimbabwe has broken down. There is a lack of trust in the economy, the state, the government and public institutions,” Mahere said.

Meanwhile, former finance minister in the national unity government, Tendai Biti, says the economic measures are an expression of government incompetence given that the economy has already become self-dollarized.