The rapidly deteriorating socio- economic situation in our country continues to dominate the news as the government tries this and that to fix things. Unfortunately, it is failing in all attempts.
Calls to revert back to the multi-currency system are getting louder as inflation is now over 1, 000 percent while indications are high that it will continue to rise
Last week the government increased fuel prices by more than 150 percent, a move which subsequently pushed the prices of basic commodities.
An increase of this nature in January 2019 sparked countrywide protests and at least 17 people were killed. This time around the masses silently ‘accepted’ the increase as recent history taught us that taking to the streets never yields positive results only the risk of possible death.
And sadly, businesses are already rejecting the local currency which has been rendered useless by the ever rising cost of living.
The local currency, has been losing value on the parallel market with one US$ fetching at least ZWL$90.
This has forced the government to pay civil servants, partly in foreign currency in a bid to pacify trade unions who have been threatening mass protests over the situation in the country.
What is clear is that the economy has gone off the rails under the current leadership with no hope in sight that things will change for the better.
It is also obvious that the local currency is no longer sustainable and that eventually, with or without the approval of the government, the economy will just dollarize as it has already started; at least this will stabilise the economy.
Yes people will continue to suffer as getting foreign currency is also a struggle but at least we will be able to plan and budget unlike now when prices keep changing on a daily basis.
In other news unrelated to the economy but that kept social media users talking and laughing were revelations by former Police Commissioner, Augustine Chihuri that his ‘beef’ with President Mnangagwa dates back to the days of the liberation struggle in the early 70s when the two fought over a woman.
Chihuri claimed that at the time Mnangagwa snatched his already pregnant wife and since then the relationship between the two has always been frosty.
The former police boss, now exiled in South Africa following the November 2017 coup that ousted the late Robert Mugabe, claimed that he was being victimized by a vindictive Mnangagwa.
Chihuri is challenging moves to seize his properties over allegations they were proceeds of corruption.
Well we don’t care if he loses his property but these revelations sure make for some much-needed light reading during these strenuous times.