Mthuli Ncube has promised to move mountains. The Minister of Finance are supposed make such a vast difference and make everything back to normal. That is supposed to happen with all sorts of measures. If this being the Forex Market, restructuring policies of the RTGS Dollar or even the reissue of the Zimbabwe Dollar, instead of the US Dollarization of the currency market.
All of this haven’t helped it all. The other day, there was news of Currency Stabilization Force. However, that is sort of futile, when all other measures has been continuing the negative spiral. There are no remedy here, only PR stunts and magnificent words fitting for the Herald.
That is why this news today proves the problems at hand:
“ Zimbabwe resumes publishing year-on-year inflation data, with Zimstat today announcing an annualised rate of 540.16% for February 2020. Month-on-month inflation for February was 13.52%, 11.29 percentage points on the January rate of 2.23%” (newZWIRE, 16.03.2020).
These issues have been hit the Republic for over three years now. There been no remedies working. The Bond Notes wasn’t a hit, neither was the RTGS Dollars nor the taxation of the RTGS transfers. Neither been to reissue the Zimbabwe Dollar. There been measured ways to stream back US Dollars .
The state is clearly clueless wondering about and nitpicking, instead of looking at the root. Because, if it did. It would uncover treasures and most likely the skeletons, which is the reason for the failure to tame the dragon of inflation.
Ncube can only do this, if the public trust him and the regime he puts forward. However, there are no trust and there are belief that the state would do something that benefits the public. They are just awaiting another looting spree or get-rich-scheme from the authorities. This is why the failure is so imminent.
To get these sorts of numbers is a utter trapped situation with no redeeming quality what so ever. Ncube can promise a road to Heaven, but he has to pass through hell himself to get there. Instead, his deflecting the pain and micro-managing without any progress. Peace.