Member Of The Presidential Advisory Council Speaks On US Dollar Ban
Member of the Emmerson Mnangagwa’s Presidential Advisory Council Dr Shingi Munyeza has penned seven points which he predicts will occur after the gazetting of the Statutory Instrument 142 of 2019 by Finance Minister Mthuli Ncube on Monday.
Munyeza said the measures will see prices of goods stabilising and later falling and the increase will see an increase in exports.
Here are the 7 points below:
1. Speculators honeymoon is over
2. The ZSE will tumble
3. The parallel market will stabilize or even come down
4. Prices will stabilize and later fall
5. Liquidity crunch on the RTGS
6. NPLs with banks will increase
7. Buy local and export
When asked on Twitter whether people have confidence in the system he said, “We have a huge deficit of confidence. That’s why even something good will always be received with skepticism. Lots of work to be done by those in leadership.”
A markets research entity ZimBollar Research Institutre added that “The removal of administrative limits on banks and beaureu de changes will allow them to correctly price foreign currency on their Buy and Sell Trades. As a result they are technically empowered to match the Alt Market. This move should deal a heavy blow to Alternative Markets.”
Source – Byo24News