Mugabe working with Gono on Zimdollar

HARARE – President Robert Mugabe Friday revealed that he has been working confidentially with Reserve Bank of Zimbabwe (RBZ) to introduce a gold-backed Zimbabwe dollar currency once the economy has stabilised.Mugabe told thousands of his Zanu PF supporters during the party’s election manifesto launch in Harare yesterday that it was possible to restore the local currency which was dropped for the multicurrency regime in 2009.

“We are mining a lot of gold in this country. That gold should support our currency. We will be  able to put our Zim Dollar equivalent to the American dollar or even stronger depending on the quantity of our gold so that you are able to have a good balance of payment,” said Mugabe.

The Zanu PF presidential candidate, who is seeking to extend his 33-year-old rule by another term, said reintroducing the local currency will enable the general populace to access money easily.

“When you have enough gold, you can sell that gold and make your payments for imports because currently an ounce of gold is worth over a $1 000.

“So we are going to be discussing that issue soon but it will depend on our preparedness.

“We have been talking with Gono (Gideon) the Reserve Bank governor over the matter,” he said adding that the rural folk is finding it hard to get hold of the United States dollar.

“We will do it through the central bank although it will be a government policy. When we do that, we will be able to print our own money because this American dollar we can’t print and more so, we have sanctions,” Mugabe said.

Mugabe’s announcement came as a surprise to many especially within the Zanu PF system amid rumours spreading that relations between Mugabe and Gono were strained. Gono kept the Zanu PF government afloat after taking over the governorship of the central bank in December 2003.

He faced the daunting task of stabilising the economy and embarked on quasi-fiscal activities in an effort to sustain the economy, but this led to unprecedented hyperinflation.

Gono was criticised for saving Mugabe from going down due to  economic pressures while also assisting key institutions of the State functional through quasi-fiscal activities.

He became a top enemy of the MDC whose secretary-general Tendai Biti at one stage called for his public execution.

Interestingly, Biti recently praised Gono describing him as “ very experienced and sober”.

But hardliners in Zanu PF have been clamouring for Gono’s head accusing him of working too closely with MDC and Biti leading to reports that all was not well between Mugabe and the central bank boss.

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Comments (14)

Mr President bringing back the Zim dollar is one sure way of losing the next campaign.You are actually decampaigning yourself.Remember kuti kumaruzevha kwamunova ndiko kwamuri strong ndiko kwakatanga kurambwa Zimdollar kuno kutaundi tichiri kurishandisa.Zivai zve kuti mari yeZimdollar yakanga yakawanda asi yaisatenga.Mari inonetsa kubata ndiyo inotenga Mr President.NeZimdollar Kombi yaiita 3trillion,chingwa 6 trillion,nyama 25trillion per kg,ndiko kwamunoda kutidzosera here kuEgipita.Manje isu taramba kudzokera Egipita nyika yeuranda,taramba kudzokera Egipita

Fox - 6 July 2013

Mugabe anopenga anoda kutora US dollar yedu iri mu bank otipa useless trillion Zimdollar isingatengi

Nyabhingi - 6 July 2013

This statement was misaligned..people have nightmares about the Zimdollar. The advisors to the president appear like they dont like him very much, why would they advise him to say things like this? The new currency better have a new name...calling it the Zimdollar is going to be its death before it is born! Just the name alone is enough to bring out a rash in most people.

gutter poet - 6 July 2013

Zvekudzokera makore ekubhena mari kuita maTrilion tarambe MDC bhora mberi ZANU bhora musango

Benard Dube - 6 July 2013

Judging from what he said in Highfields. the madman is capable of doing anything

Debra - 6 July 2013

mazim dollar ,matemba,machunks,forget my vote.

takaendesa - 6 July 2013

Zimdollar enables Zanu-PF to manipulate the currency for its benefit. Propagating that the Zimdollar is coming back is good for some of us who want change. Everybody knows what this means that propagating the Zanu-PF manifesto. Go on President Mugabe preach the good gospel.

Gondobwe - 6 July 2013

zimdollar hakuna kwatinozvika nemudhara uyu vahu vakatoshamisika pamusangano nezuro kuti mudhara arikuda kudzosa zimdollar. gorerino tichawona kwazvinosvika. kana Iran yakachinja President isutorega kuchinja . mudhara akura.

Gore rino - 6 July 2013

WE ARE TIRED OF HOT AIR FROM THIS MAN. HOW MANY PROMISES HAS HE MADE WHICH HAVE NEVER MATERIALISE ? e.g. HE PROMISED TO TACKLE CORRUPTION BUT INSTEAD KEEPS QUIET WHEN THE ANTI-CORRUPTION COMMISSION GETS HARASSED. IF ZIMBABWEANS KEEP ON TOLERATING THIS SHIT, THEN THEY HAVE STUPIDITY IN-GRAINED IN THEIR DNA.

GARANGANDA - 6 July 2013

see for yoself zimbabweans....... vote for Zanu & bring bek the us dollar, mek yo choices pals

ginda - 7 July 2013

Walk the talk, 1'st establish a diamond cutting and polishing plant and use diamond and gold reserves to back the Zim dollar with sufficient reserves, cut on government expenditure, lets love one another as a nation and adopt things zvino rerutsira weruzhinji, ukaita US$3 billion mu account ndo kuti usafe here, Va Mujuru makangovayendesa wani, mari kuruzhinji.

Zidiocracy - 7 July 2013

VOTING ZANU PF MALUMILA MAZIMBOS Remember ZimDollar resolution paZPF congress 2010 Munoti vaChiyangwa varikutsvageyi muPolitics now again US DOLLARS during the transition from USD to ZMD. Zanu PF IS FULL OF CROCKS, DEALERS AND CRIMINALS WHO ALWAYS OPERATE WITH TWO WALLETS. MAZUDA OUYA. KUBATA USD UCHAENDA KUJERI SOON 'VOTERA HAKO ZANU PF MWANA WEZIMBABWE" Vamwe vangu musatiurayewo apa. I EDGE YOU TO UNITE UNITE IN REAL UNITY AND MOBILIZE ALL YOUR FAMILY MEMBERS AND THOSE AROUND YOU TO GO VHOTE NEHUNGWARU AND SERVE OUR POCKET ECONOMY FROM THIS BIBLICAL GARANYANYA.

EYE OPENER - 7 July 2013

"Mugabe told thousands of his Zanu PF supporters during the party's election manifesto launch in Harare yesterday" Those where not all ZanuPf supporters you should have said thousands of people because many were frog marched to the rally. Check Harare residents they will tell you especially those in high density surburbs. He is going to introduce it very soon. Vaarikutaura vekumusha uku actually welcomed the USD because they can at least find something in shops, I still need to come across a villager who wants those trillion dollars in his pocket

maita - 9 July 2013

Torai shoko muende naro kumisha muvaiudze kuti kudzoka kwe zimdollar ndokufa kwavo nenzara nekuti hapana anozokwanisa kuvachengeta va vhota semapenzi vakavhotera zanupf. Irikutoridzora musi wavanongonzi vahwina. pane benzi reku Herald rakati Chinamasa ndiye akaunza USA, kusanyara budget rake raive nei ma zillion nema trillion.

wamaromo - 9 July 2013

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