Governor’s U.S. Dollar Demand Sparks Outrage After ZiG Currency Launch
Less than a day after the Reserve Bank of Zimbabwe (RBZ) governor, Dr John Mushayavanhu, proudly unveiled the new gold-backed ZiG currency, he is facing a barrage of criticism for allegedly undermining its credibility. In a move that has raised eyebrows, the governor has been accused of “sabotaging” the freshly launched currency by insisting on USD payments for an upcoming Monetary Policy Statement Breakfast Review Meeting, where he is set to be the keynote speaker.
- Also Read: From ZWL to ZiG: Zimbabwe Announces New Gold-Backed Currency – Here Is What You Need To Know
Social Media Storm:
Social media platforms have been ablaze with reactions from prominent figures and the public alike.
Raymond Majongwe, the Secretary General of the Progressive Teachers Union of Zimbabwe (PTUZ), lamented on Twitter,
“Why not show CONFIDENCE in the ZiG by charging in this new currency? They are already sabotaging the new kid on the block. Vega zvavo.”
Similarly, prominent lawyer and former legislator Advocate Fadzayi Mahere questioned the governor’s faith in the ZiG currency, tweeting,
“Dear @nickmangwana, Governor Mushayavanhu launched a new structured currency yesterday which he says he believes in and is “backed by gold”. Why is he charging USD for his speaking engagement days after the launch? If the Governor has no faith in the Zig, why should the public have confidence in it?”
Mockery and Disbelief:
Journalist Hopewell Chin’ono humorously pointed out the irony of discussing the ZiG currency at an event that doesn’t accept it as payment, saying,
“These guys are a real big joke, I tell you! The central bank governor of Zimbabwe, John Mushayavanhu, introduced a new local currency called the ZiG and encouraged Zimbabweans to have faith and confidence in it. Then, a day after that, a poster comes out advertising a breakfast meeting where he will talk about the new currency….and those attending are being charged in US Dollars! You could never make this crap up, even if you tried, I tell you!”
Senator Douglas Mwonzora and academic Chipo Dendere also joined in the chorus of disbelief, with Dendere calling the governor “a clown” for his contradictory actions.
“Zimbabwe’s new governor is a clown. Yesterday he introduced a new currency ZiG. Today he implies it’s it good enough as he charges speaking fees in USD. Why the F should people pay to hear you do your job?”
Zimbabwe’s new governor is a clown. Yesterday he introduced a new currency ZiG. Today he implies it’s it good enough as he charges speaking fees in USD. Why the F should people pay to hear you do your job? pic.twitter.com/YaI2iSAnWn
— Chipo Dendere (@drDendere) April 6, 2024
A Rocky Start:
The incident has cast a shadow over the introduction of the ZiG currency, with many seeing it as a “false start.” Critics like Davis Laque are already predicting the rejection of the currency, pointing to the monopolistic control of crucial sectors like fuel.
Follow Us on Google News for Immediate Updates
The post Fury Erupts as RBZ Governor ‘Sabotages’ ZiG by Demanding USD Just After Launching New Currency appeared first on iHarare News.