Zimbabwe Heads of Christian Denominations (ZHOCD) has castigated government’s policy framework which it says does not attract Foreign Direct Investment (FDI).
In a statement released yesterday, after a meeting with the Reserve Bank Governor, Dr John Mangudya, ZHOCD says it has been watching with keen interest the recent economic slump that the country is facing.
“It is the church’s view and conviction that the current economic crisis is a result of a protracted policy framework which has not been consistently and appropriately implemented.
We are therefore, calling on government to ensure that the policy framework is realigned to ensure economic growth, the attraction of FDI exports generation and employment creation,” said ZHOCD in a statement.
ZHOCD, says it notes with great concern the rampant corruption taking place especially in Parastatals. The Christian group also challenged government to act decisively by putting punitive measures which ensures all those convicted of corruption can learn. This, the statement says, will enable the monetary policy intervention by the government to be fruitful.
Advertisement
The statement further castigates the externalization of the US dollar which has caused acute cash shortages.
“We have noticed the commoditization of the US dollar by individuals with serious concern. This has further worsened the economic situation as low productivity is now the order of the day. We are urging government through its law enforcement agencies to curb the current rampant externalization of funds.
We welcome the central bank’s move to introduce plastic money to ease financial transactions. However, we are concerned with the high charges of plastic money which militates against the Governor’s objective. We therefore, implore government to reduce, if not altogether eliminate transaction charges of plastic money,” reads part of the statement.
Turning to the proposed introduction of bond notes, ZHOCD says the church is concerned and afraid of this move as it fears a recurrence of the hyperinflationary environment similar to the one experienced from 2007 to 2009 before the adoption of the multi-currency system.
ZHOCD says, should the government go ahead and introduce the much disliked bond notes the “money’ must have an expiry date which does not extend beyond December 2017.
It added that there must be an independent board which monitors the issuance of the notes so as to guard against corruption.
The statement added that Zimbabweans must be vigilant, tolerant and united to work together towards the transformation of the economy.
