Zim Economy improving: Cross

By Zivanai Dhewa

Former MDC legislator for Bulawayo Central and Chairman for local government, Eddie Cross has commended Zimbabwe’s growing economy despite odds against it.

Speaking in an interview with ZBC, Cross said, “The underlying economy is growing, exports are growing, the fundamentals are strong.

“This indicates the underlying strength of the Zimbabwe economy despite the current problems,” said Cross.

Dispelling people’s assertions that the Bond note is not proper legal tender, Cross argued that, “The Bond note is the strongest currency in the SADC region, because it is a currency.  This indicates the underlying strength of the Zimbabwe economy despite the current problems.”

In response to people who questioned why the Bond note will be replaced by a new currency if it is a strong currency, one netizen identified as Halimani Lot, expounded.

“It was temporarily introduced as an export incentive but eventually became a major medium of exchange due to shortage of the USD and its disappearance from circulation.  The new currency will not be convertible like the Bond,” Halimani responded.

Another netizen identified as Innocent Kamutando sought to clarify Cross’s assertions that the Bond note is currently the strongest currency in the SADC region. He said, “Most Zimbabweans have a hearing problem and don’t want to face facts, please hear what he is saying and what he is not saying then debate factual and within the idea not for the sake of debating,” Kamutando urged.

He added, “1USD: 4Bond note on the parallel market, no other currency is that strong in SADC. The economy has grown and Minister of Finance and Economic Development, Professor Mthuli Ncube revised our GDP figures, the IMF, World Bank nor other continental or International finance institutions have objected to the figures.

“Please note he did not say Bond note is problem free, it has quite a few, mainly to do with exchange rate in the official system and acceptance as a currency internationally, if our government introduces the Zimbabwean dollar as a matter of urgency as stated by Prof Ncube, it would still have a lower rate against the US$ as compared to other currencies in the region,” Kamutando concluded.