Friday, July 10, 2009
Zimdollar, rand or US dollar?
Barely half a year after the long overdue abandonment of the hapless Zimbabwe dollar, the government appears to be debating its resuscitation, as if they do not have more important things to do. It is as if these guys absolutely have no idea about the real challenges facing the country at this critical time. Do they really think that the color of money matters to ordinary folk? This sort of conversation is truly silly and has more to do with the oversize ego of Robert Mugabe and the narrow interests of a small group of the well connected and powerful who used to make a killing trading worthless zimdollars for real currencies than with the improvement of the lot of the poor.The government must focus its attention on creating conditions conducive to the stabilization and growth of the Zimbabwe economy and the creation of jobs for the millions of unemployed young people. Unaccompanied by real reforms, such as the control of wasteful spending (e.g. vehicles for parliamentarians to parade at growth points) , neither the rand nor the US dollar will deliver economic salvation. It is also clear that the government should divest from businesses that would be better run by private concerns (newspapers, television, airlines, food processing, mining). If there is one thing we can all agree on, it is that government has neither the skill nor the creativity needed to run a business of any kind. The main reason why the government has tentacles in every major sector of the economy is for Mugabe to maintain a patronage system in order to shore up his shrinking support base.Zimbabweans must realize that the only way to bring about a more prosperous future is by making it attractive for those who have investment capital to make money in our country. Much as we may not like the looks and practices of some of the bearers of this much needed capital injection, the nature and size of our needs is such that we have no real alternatives. This is what should be causing the government sleepless nights, not the color of money.
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