HARARE, Zimbabwe. (News of the South)- Former Reserve Bank of Zimbabwe manager and Presidential aspirant Comrade Goodwill Musariri explains the underlying move by government in suspending mobile money platforms.
My immediate comments on the:
SUSPENSION OF MONETARY TRANSACTIONS ON PHONE BASED MOBILE MONEY PLATFORMS
By: Goodman Tamuona Musariri
Introduction
The issue of CONFIDENCE in our Monetary Policy consistency is critical. Parliamentary Oversight around Minister Mthuli is devoid of understanding of the evolution of money from barter to electronic and cryptography that creates crypto currency.
It is also a question of upgrading the way money holding institutions are supervised and also upgrading our financial intelligence and surveillance.
My further Constructive criticisms:
(1) The President must not be allowed to use the burial of heroes to affect the qualitative aspects of our Monetary Policy as if our banking sector is now another branch of COMMAND ECONOMICS?. Why should statements by politicians change economic fundamentals?
(2) Monetary Policy tools are : Interest rate , exchange rate, repo rate and Open Market Operations not heroes acre burial an announcements.
(3) Suspending mobile money transactions on phone-based mobile money platforms is political not economic as the President is suddenly realizing that Minister Mthuli has rendered RBZ and formal monetary policy POWERLESS as STRIVE MASIYIWA now holds all the reigns of power and wishing that power be transferred to say General Chiwenga by just a touch of a button.
(4) Money supply growth can no longer be determined with substantial accuracy as FOREX is skipping borders into Zimbabwe as hard cash in trunks to buy gold and other minerals in Zimbabwe. There is more FOREX in private vaults than at the RBZ and ECOCASH carries more than 70% of all money circulating in Zimbabwe and no monetary policy strives in such an environment.
(5) However Minister Mthuli must be a financial mercenary who was employed to create different money premiums by his Appointer so that FOREX is only allocated around the President.
(6) By Suspending telephonic money : The Minister is making BOND NOTES or local currency more scarce to drive out RTGS which will benefit politicians who have access to to the printed local currency.
(7) The move will facilitate our politicians to build greater REAL ESTATES and SAFE HAVENS abroad with the little FOREX available on the market.
(8) The formal FOREX Interbank failed to mobilize the USD $300 million that industry requires annually and Minister Mthuli knows that all his potential lines of credit have maxed out and now being REPAYMENT TIME so bringing the auction system is a move to extend his life in office.
(9) With the patronage driven system and impunity we are enduring : why bring controls in a heavily burdened financial sector which is devoid of production?
(10) What currency reforms can take place if Mthuli can meet fundamentals for the same currency reforms such as three months foreign currency cover of total annual imports and a stable inflation?
Conclusion:
I say Citizens are being beaten with counterintelligences such as this so that they don’t exercise the Constitutional remedies of:
(1) Removing the President.
(2) Removing MPs not discharging the needful oversight for proper Bank Supervision and Surveillance!
Chairman: Goodman Tamuona Musariri
Cde Jiribada
Prophet Bokolings
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