The Zanu pf political entity, despite its ambition, remains unable to control the nation’s economic pulse. Its interventions are filled with impotence, failing to halt the inevitable chaos that comes with its dubious governance. The gradual elimination of smaller currency notes by the freer informal sector, not the government, is a glaring symptom. In a misguided attempt to remedy this symptom, Zanu pf introduces larger currency notes, sidestepping the root issues it has created.
Instead of implementing reforms that would bring back the rule of law, cease the culture of economic interventionism, respect the sanctity of the constitution and protect fundamental rights, Zanu pf chooses to replace one ineffective tool with another equally futile one. Replacing small currency notes with larger ones is akin to trading a smaller whip for a larger one to prompt a lifeless donkey to move. It is a wasted effort that brings no change.
Zanu pf’s lack of strategic comprehension of the reality on the ground prevents it from addressing the crisis appropriately. Rather than implementing long overdue reforms for revival and economic stabilization, they blindly insist on retaining non-effective approaches.
Zanu pf lacks the political will to put into place reforms that could stabilize a revived economy and transition it from an informal to a formal, liberalised economy. The potential results of such reforms could create employment, increase the middle class and shift dependence away from the partisan distribution of Zanu pf’s aid. Zanu pf instead favours poorly thought out solutions, dominated by paranoia and urgency to retain power unlawfully.
While Zanu pf falsely claims agriculture as the backbone of the economy, their inability to industrialize and modernize the nation exposes their gross incompetence. Their failure to diversify exports leads to trade deficits and imbalances, and the local industry is further burdened by the influx of cheap imports. This demonstrates why Zanu pf prefers a change of ineffective tools over adopting genuine and impactful reforms.
The poor fiscal policies resulting in budgetary deficits are a manifestation of the failure of the Zanu pf governance. Zanu pf’s ignorance towards the free informal economy’s accurate exchange rate allows politically connected entities to profit through rent-seeking. This artificial, controlled exchange rate fails to stimulate production, causing the economy’s recovery to be only on paper.
Finally, Zanu pf is aware of the necessary measures but deliberately disregards them to avoid implementing much-needed reforms. Their fear of losing power overshadows the potential benefits of these reforms, such as the rise of a politically informed and independent middle class, and the peaceful transition of power to the opposition. For Zanu pf, replacing small currency notes with larger ones is merely a stopgap, a ticking time bomb waiting to expose its failures.
To conclude, the move to replace smaller notes with larger denominations is not a solution but a diversion from the real issues. Genuine economic reform is the only true remedy to the suffering, not a shift in the currency’s appearance. It is only a matter of time before the sins of Zanu pf are exposed to the light of day.