NO country has ever been able to reintroduce its domestic currency in the history of dollarisation due to the costs associated with such a decision and Zimbabwe may not be able to do so at least in the next five years, a United Nations Development Programme senior official has said. UNDP senior economic advisor in Zimbabwe Mr Amarakoon Bandara told a Zimbabwe National Chamber of Commerce annual congress in Victoria Falls that Zimbabwe was not ready for reintroduction of local currency, even under a different name as the fundamentals were not there yet.
"One of the primary conditions you need to have in place is restoring public confidence in a local currency. Basically, this means you have to eliminate building of inflation expectations," Mr Bandara told delegates.
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