Maravi

(HERALD) Unity essential for economic turnaround

Unity essential for economic turnaround

THE 2008 First Quarter Monetary Policy Statement presented by Reserve Bank of Zimbabwe Governor, Dr Gideon Gono, on Wednesday contains some of the boldest measures ever. And the question to ask now is: What more do we want as Zimbabweans? At just one stroke of a pen and in one afternoon’s presentation, Zimbabwe is back on the world radar as a land of vast opportunities and infinite possibilities.

The monetary policy statement has been welcomed by many, who expect the measures to restore lost hope and rebuild the confidence of all Zimbabweans. Indeed, the feeling is that the monetary policy statement is just what the doctor ordered, coming especially at a time when many businesses are not operating at full capacity largely as a result of foreign currency constraints.

For the past 12 years Zimbabweans, particularly the business community, have been calling for the liberalisation of the foreign currency markets.

Now, the business community has been rewarded for their patience. And the ball is in their court to be responsible and reciprocate with more goods on the shelves.

Dr Gono has promised that more exciting news is on the way. Now, that is keeping the country in suspense, but it is worth waiting for that surprise because the Governor always delivers on his promises. We are well aware of the fact that the Governor’s bag of tricks is never empty of surprises.

However, as the country moves forward with various economic turnaround policy initiatives, it has amply demonstrated the unique resilience of its people and economy in the face of virtually a decade of sanctions.

We now find that Dr Gono’s sanctions lifting calls are timely.

Zimbabwe has forged ahead despite the freezing of most donor-supported programmes, withdrawal of balance of payments support and lines of credit by multilateral financial institutions such as the International Monetary Fund and the World Bank.

Zimbabwe has also suffered from the passing by some countries of legislation that prohibits trade and financial relations with the country.

It is regrettable that the crafty nature of some of the sanctions has been ignored by many who instead are seeing Zimbabwe’s economic problems as mainly a result of bad governance and wrong policies.

We cannot run away from the reality that the country cannot prosper under sanctions. The Governor’s call for unity and political maturity is therefore most welcome and timely.

The need for all stakeholders to close ranks cannot be overemphasised.

Let us not spend time and energy throwing brickbats and sniping at people who are trying hard to make a positive difference.

Instead, we should as Zimbabweans be bound by the spirit of oneness, see problems through the same eyes, ride over them together and never say die.

Dr Gono could not have put it any better when in the concluding remarks of his monetary policy statement, he said:

". . . let our economic history of tomorrow, just like our liberation war history of yesterday, record that at her greatest hour of need, when she was at her most vulnerable moment and at the stage when it was easier to give in and give up than to toil and sweat, Zimbabwe found herself lucky to have men and women who could stand up and defend her, who could sacrifice all they have for her till she was able to stand on her own . . ."

Success should be guaranteed if we walk the economic turnaround journey as one people.

Labels: FOREX, GIDEON GONO, RBZ

posted by MrK @ 3:31 PM