The evils of the USD

Jasper Hloka

Government’s move to ban any local trading in United States dollars and other foreign currencies has indeed sent shivers down the spines of most economic, social and political players in Zimbabwe who had taken hobby in feasting on helpless Zimbabweans. With the effects being felt across the board already, an economic revolution is certainly upon Zimbabwe as Government has embarked on emancipating a citizenry that had fallen under economic bondage or servitude.

The epicentre of this decisive, bold and necessary decision had to be the parallel foreign currency exchange market which had become a menace to the country’s economy and the common man walking on the soil of Zimbabwe. Exchange rates kept sky rocketing at the behest of illegal foreign currency dealers much to the detriment of the ordinary Zimbabwean who could not keep up with the unjustified supersonic speed the US dollar kept gaining against the local currency.

Basic commodity prices had gone beyond the reach of many Zimbabweans as they struggled to get their hands on the US dollars which were being demanded by almost every sector of the economy from foodstuffs, medicines right to other means of life in general.

With reference to the Holy Scriptures, the love of money is said to be the root of all evil. The biblical lesson could not be any real as illustrated in Zimbabwe’s economy. Was it the money (US dollars) or the business community that had become so ruthless, impassionate or inconsiderate?

Despite demanding the US dollars, the business community did not pay their employees in this currency. The love for the Benjamins eroded the social and business ethics more still economic fundamentals. It defied logic indeed to demand US dollars at a time that no one was really earning in that currency. Living had just become a burden in Zimbabwe. Getting sick was one of the worst nightmares one would ever experience because the cost of getting better would eat into all the fortunes they would ever have gathered.

Schools had also joined the USD chorus, with pre-schools ripping parents by demanding the ‘greens’. Various correspondences from schools and pre-schools were leaked to the social media exposing the rot that had befallen these institutions. Every facet of livelihood had become holed up under the armpits of the so called ‘the world’s strongest currency.

That is much ado about the consequences of the USD on a social front. However, its devastating effects were to be felt on the political front. Government had a lessons or two to learn from the unforgiving currency.

Knowing of its (US dollar) scarcity, the country’s opposition elements and proponents of regime change, as usual, seized the situation to stoke the fires of discontentment and steam up the heat on Government. Every trade union had to be influenced to demand either the paying of workers in US dollars or at least incentivise them in that currency.

The opposition have been known as the purveyors of doom for the purposes of making political statements. Whoever taught them the art of using the economy as a political tool has a case to answer in this life or the other.

Where the US dollar comes from, it is an abomination, a crime and treasonous act to spell economic doom or play around with the economy when one wishes to communicate a political message (Patriotic Act). However, here in Africa the West has encouraged this to stoke the fires of dissention just to keep the African brothers fighting while they loot or position them as pawns to aid in their syphoning of resources.

When all has been said and done, Government has made enormous strides to put in place economic fundamentals and reforms to allow for the country’s growth and improving its efficiency to trade with other economies. The evidence of this stride is found in the silence of the US and its blind eye act on the country’s economy.

The mantra of policy uncertainty and distorted business and economic principles has since died a natural death. This is because the West and its local foot soldiers do not have anything to say anymore.

However, the US and its local mouthpieces and proponents of regime change have found new joy in touting political reforms. Not only are these reforms just treacherous, but they are suicidal. They expect Government to make reforms that would push itself out of power. The paradox is guised under the shameless lie that MDC leader, Nelson Chamisa, won the 2018 harmonised elections.

The push for political reforms will however, be overshadowed by the ongoing economic revolution characterised by practical expose` on corruption by all players from the social, economic and political arena in Zimbabwe. Zimbabwe’s economy is definitely on a positive trajectory under the stewardship of President Emmerson Mnangagwa and his lieutenants led by Professor Mthuli Ncube as they steer around the country’s economic fortunes.