Zimbabwe: SB Moyo Sets Record Straight On Zimdollar

Photo: The Herald
Minister of Foreign Affairs and International Trade Sibusiso Busi Moyo (file photo).

Government insists that the ban on the use of multiple currencies will remain in place as it seeks to lower the cost of doing business and get the economy functioning again after decades of uncompetitive pricing due to expensive currencies.

Foreign Affairs and International Trade Minister Dr Sibusiso Moyo said this in an interview with BBC World Service Newsday.

The news anchor, Shaimaa Khalil, sought to know if the introduction of a local currency at this stage would be sustainable.

Minister Moyo said the move has stabilised the economy.

"The whole point is for you to understand the whole roadmap from the time we introduced the US dollar and the multiple currencies that depreciated the whole productivity and lowered exports in the country," he said.

Minister Moyo emphasized that it was important for Zimbabwe to take its fate in its own hands by promoting exports to ensure foreign currency inflows.

"It is a right of every sovereign nation to have its own currency and it is a more organised way for exporters to have access to foreign currency," he said.

"In fact, this is a listening Government, what happens is it is going to be painful getting the country out of two decades of going down.

"We are not looking at taking decisions and coming back, but we are looking at improving the future for our people."

Earlier, Dr Moyo had an interview with BBC Today Radio with anchor Michal (Mitchel) Hussain where he explained that the new dispensation under President Mnangagwa took media reform very seriously and that away from just media law reforms, it was investigating any reported cases of abuse of journalists and reforming the police force to modern ways of policing.

Minister Moyo has a very busy re-engagement, trade and investment meetings on the sidelines of the Global Conference on Media Freedom currently underway in London.

He is expected to add Zimbabwe's voice to the conference on what it is doing to reform the media sector along lines of international best practice.

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