Government continues to send mixed messages. At one point, there was news of recruitment freeze. To help in the cost-cutting drive, the public service is apparently carrying out a head count of all employees – which suggests that the relevant ministries are not even sure how many workers they have. But despite cost cutting announcements, the army is now hiring new soldiers.
For the benefit of a visiting delegation of German officials, Finance Minister Patrick Chinamasa has said the country is committed to the rule of law. As Chinamasa was making these ludicrous claims, the Zimbabwe National Army was assaulting civilians.
Online, there are disturbing images of a blood-spattered Happymore Chidziva, MDC-T National Youth Assembly Chairman, who was beaten by uniformed men, in what appears to be a foiled kidnapping.
This week the Reserve Bank, which in December introduced bond coins, has introduced a new 50c bond coin, ostensibly to alleviate coin shortages. The popular view is that government is attempting to sneak the Zimdollar back into circulation, but under a new name. The recent introduction of the 50C coin suggests that Chinamasa has nudged a step closer to reintroducing the Zimdollar. There is no way to ascertain whether these coins are in fact backed by actual US dollar reserves, particularly when government is broke.
Between 2000 and 2015 several banks have shut down due to mismanagement and a tough operating climate. Those that remain operating have downsized massively. Only 30% of the population operate a bank account. Any indication that government will reintroduce the Zim dollar will further erode depositor confidence. Moves by Zimra to raid the bank accounts of tax defaulters without due process will certainly have lowered public confidence in the banking system.
Post published in: News