MDC inexperienced for Finance-ZANU PF

ZANU-PF has told former South African President Thabo Mbeki that the MDC is too inexperienced to handle the ministry of finance, the party's chief parliamentary whip, Joram Gumbo told VOA's Studio 7 for Zimbabwe.

“Comrade Mugabe thinks he should retain the portfolio of ministry of finance because he thinks that over the past few years we have survived under sanctions.. we have had some means for surviving under those difficult times,so he believes that if the implementation of this agreement does not mean that by the following day there will be an end or lifting of sanctions . we should then continue with the present administration.thats the basic argument.”,said Gumbo

Gumbo went on to deny that ZANU PF is responsible for the economic meltdown and instead accused the MDC of siding with the international community.

The official inflation rate surged last week to 231 million per cent and the World Food Programme this week launched an appeal to feed 5 million Zimbabweans. It said more than 80 per cent of the population was surviving on less than $2.50 a day.

Independent economists say that inflation this month will run into the trillions. That has forced the Government to allow shops to accept US dollars and the South African rand, because Zimbabwe’s dollar is all but worthless.

A loaf of bread, which cost Z$500 at the beginning of August, now costs between Z$7,000 and Z$10,000, even when it can be found.

Economists say the root cause of the country’s hyperinflation is the government’s policy of printing ever more money to meet its own needs, which has the effect of destroying the Zimbabwe dollar’s value in terms of hard currency, sending the cost of anything imported soaring.

And with the economy in a downward spiral Officially, one US dollar is worth Z$180. But on the black market, it fetches Z$8,000 – and that is for cash, which is in desperately short supply. For bank transfers, the rate is Z$1.5million to one.

These figures are even after the currency was revalued in August, when 10 zeros were knocked off.

“The consequences of such a rate of inflation is absolute desperation, despair and poverty,” said Eldred Masunungure, professor of political science lecturer at the University of Zimbabwe.

Simba Makoni, former Finance Minister, blasted ZANU PF for its inflexibility and said demands made by by ZANU PF are both illogical and unjustifiable.

“We all know why we are in this mess and who brought us here,” he said. “It would be illogical and unjustifiable for people to demand posts they know pretty well they failed to deliver in the last 28 years.

“Without saying it, it is pretty clear that there are some ministries that cannot go to one party because of its failure to deliver the goods over the last 28 years.”, he said.

VOA

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