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Exchange rate an act of sabotage

THE government’s addiction to controlling the exchange rate is causing untold suffering for the majority of the population save for a few rich.

, Helvetica, sans-serif”>You do not need a rocket scientist to prove that most command economies failed their people because of sticking to self-serving misdirected policies.

When our government maintains the exchange rate of US$1: $824, which cannot buy a loaf of bread, it shows that we are being governed by psychotics.

When an exchange rate cannot sustain the manufacturing industry, the mining industry or the tobacco industry, which we so rely upon, then you know we are doomed for disaster.

When you force air into a balloon beyond its carrying capacity it will just explode. If you force your main factors of production to accept 50% of their foreign currency earnings at a paltry $824 or only just above what do you think they will do? Close their companies? No ways! They will find ways to survive.

That is why the forex black market is thriving. If we were not led by self-serving saboteurs, we would have one exchange rate governed by market forces and who knows, all the forex generated by this country may find its way to Gono’s bank. Wouldn’t that be good news for Christmas Herbert?

Tendai Madanzi

UZ, Harare.

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