Zimbabwe: Mnangagwa Blames West, Opposition for Zwl Collapse

Spread This News

PRESIDENT Emmerson Mnangagwa has blamed the opposition for allegedly roping in Western allies to destroy the local currency under a well-orchestrated scheme aimed at causing civil unrest.

This follows the massive depreciation of the local currency on both the formal and official exchange rate markets.

US$1 is currently trading at a high of ZWL5 354 on the official market with the parallel market hovering around the same margins.

Some traders have adopted the habit of making it difficult to transact in ZWL and effectively forcing customers to pay exclusively in US$.


Mnangagwa back in Masvingo for campaign rally; returns 5 years after misleading voters with CSC revival claim

ZWL here to stay, let that sink in your head; says Mnangagwa; threatens to legislate against foreign currency use as economy falters

FIU directs products price reduction; warns businesses of breaching interbank exchange rate law

Addressing thousands of Zanu PF supporters at Mucheke Stadium in Masvingo Friday, Mnangagwa said: “We in Zanu PF are building this country while some opposition parties supported by their Western handlers are causing suffering to our people through sanctions and the attack on our currency.

“We are aware of those bent on causing havoc in the country by attacking our currency, they will never succeed, and they want our minerals. They want citizens to get frustrated and rise against the Zanu PF party. They are fighting to take advantage of manufactured poverty.

“These detractors and their surrogates have never had the people of Zimbabwe at heart, our mass revolutionary party is the only party with a vision for the future,” he said.

He revealed that he had directed the Reserve Bank of Zimbabwe (RBZ) governor John Mangudya and Finance Minister, Mthuli Ncube to stop price increases and manipulation of the exchange rate.

“Those who are going to be found committing crimes against measures we have put in place shall have their trading licences withdrawn because these people are doing these heinous acts to cause the suffering of our people. I now warn them three times,” Mnangagwa said.

The Zanu PF leader, whose administration has been accused of using violence and intimidation in the lead-up to the elections, called for dialogue and tolerance regardless of political affiliation.

Mnangagwa further urged the youth to stand up and play their role towards the realization of Vision 2030.