Government on high alert for illegal forex trade

By Tendai Munengwa

Government is on high alert to deal with the foreign exchange parallel market and ensure the country remains on a positive economic trajectory.

Responding to a question by Senator Morgan Komichi on the impact of the Statutory Instrument 127, the head of government business in the Upper House, Senator Monica Mutsvangwa applauded reports by the International Monetary Fund and World Bank that Zimbabwe is poised for a steadfast growth, adding that it is clear testimony that economic fundamentals implemented by the second republic are working.

“Generally, the economy of the country is doing well, to a point where even the IMF and World Bank are actually lauding the govt for what the dream team in the fiscal and monetary policy are is doing,” said Minister Mutsvangwa.

“There are a number of things which the President and government have done to deal with the weapon of inflation which have been used in this country by dominant imperial former colonialist to make sure there is regime change in this country. Specifically, these statutory instruments have brought in with monetary reforms, dealt heavy blows to those who were trying to manipulate the stock exchange and those abusing the mobile money platforms and the introduction of the forex auction has also dealt a blow to that agenda by the enemy,” she said.

Minister Mutsvangwa said behaviour takes time to change, but the government is doing its best to address the economic situation.

“We are obviously happy with what is happening at the Reserve Bank, where they are naming and shaming all those engaged in wayward behaviour. Madam President, there has been no printing of money in the country. For the first time in so many years, we are going to see that there will not be any supplementary budget, so that means there is a lot of effort being made on the fiscal side.”

The issue of disturbances by terror groups in Mozambique also came under the spotlight in senate, with the Minister of Defence and War Veterans Affairs, Cde Oppah Muchinguri Kashiri explaining how SADC is addressing the matter.

“The Mozambican issue has been going on for a long time, as we all know. For three years we have not been aware of who and what was involved, until the government of Mozambique opened up to SADC about the existence of terrorists. Terrorism is such a big word because it is a growing phenomenon,” she said.

Hon. Oppah Muchinguri Kashiri

“To us, we are concerned by the developments in Mozambique because we are landlocked and what is happening there threatens our economy and our Vision 2030. If Mozambique has peace, according to our National Defence Policy, we are assured of development as Zimbabwe and the regional bloc. I am glad as SADC we agreed to deploy a standby force.”  

Outstanding cotton payments for farmers were also topical, with Senator Mutsvangwa explaining that government intervention has seen farmers being paid in batches.

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