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President Emmerson Mnangagwa’s recent policy pronouncement aimed at stabilizing the economy is a recipe for economic disaster, opposition Citizens’ Coalition for Change (CCC) has said.
In a comment on its micro-blogging social networking Twitter handle CCC attacked the Zanu PF leader’s move to stabilize describing it as ill-thought.
“Such ill thought policy announcements are nothing but a recipe for economic disaster.
“The regime in Harare’s knee-jerk reaction to the on-going economic implosion will not address the country’s economic woes,” the party said.
CCC added that Zimbabwe is battling rising inflation which according to independent researchers is now second highest on the continent.
“Official statistics show that Zimbabwe’s year-on-year inflation for April stood at 96.4% from 72.7% in March mainly driven by price increases in fuel, electricity and gas.
“Rising inflation and the volatility of the Zimbabwe dollar have stood out as some of the key issues confronting the economy.
“Mr Mnangagwa’s recent policy pronouncement in the wake of a deteriorating economy is nothing but a reflection of an incompetent regime that believes everything & everyone is an enemy & a saboteur,” said CCC.
Mnangagwa announced Saturday night that all banks with immediate effect will no longer process third party country foreign payments referring to payments made to an entity overseas via another country.
Critics argue the move was counter productive in a country desperate for foreign direct investment.
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