Finance Minister Mthuli Ncube must admit failure, resign and pave way for other people who have solutions to address Zimbabwe’s economic crisis, Labour Economist and Afrikan Democrats (LEAD) President Linda Masarira has said.
Responding to Mthuli’s press statement on the establishment of the currency stabilization taskforce Linda Masarira said the finance minister is not designing economic policies and strategies that promote full participation of citizens in the process of economic development and enabling access to financial services saying his economic policies are promoting the political elite at the expense of the ordinary people.
“It is not a crime to admit failure, resign and pave way for other people who have ideas and solutions on practical ways to solve the economic crisis in Zimbabwe,” Masarira said.
LEAD president said Mthuli Ncube recent formation of a currency stabilization task force was a mere waste of tax payer’s money as the government already has a financial Intelligence Unit adding that he should stop taking Zimbabweans as fools with his everlasting monetary policies that are not yielding positive result towards economic developments.
Masarira further stated that Mthuli should not lead the country with prophetic utterances but with deliberate economic planning.
“We want minister to lead rather simply react to economic fundamentals. Mthuli should be told that he is a minister of government and not a minister of religion. He should not lead the country with prophetic utterances but with deliberate economic planning,” she said.
LEAD President urged the government to adopt a mixed economy primarily guided by the private sector but partly operated by the government.
She further stated that the government should prioritize banking sector reforms saying regional banks are now reluctant to do business with Zimbabwean banks because the country does not have standard modern security features in its banking system.
“Biometrics are very important nowadays. How does the finance minister strengthen our local currency when there are no forex regulations? The so called “floating rates” is just another term to entrench corrupt activities within the banking sector and to cover up the uncouth fiscal indiscipline at the Reserve Bank,” said Masarira.
Masarira urged Central Bank Governor Mangudya to create international linkage of accounts operated by the RBZ and have real automated deductions and payments of all exporters to curb externalization of money.
By Tapiwa Chirume and Success Majaramhepo