Against the damning background of a controversial mercedes benz, a hardly complentary expose on his meteoric rise, clashes with the finance minister Herbert Murerwa, and the rapid unraveling of his policies, Gono was constitutionaly mandated to deliver yet another monetary policy statement yesterday. Deliver he did, but certainly not a policy statement.
The only change, a cut in money supply which doesn’t count becuase in an already highly speculative economy, speculation will increase by a factor equal to the decrease in money supply. Translation; our record breaking inflation will skyrocket this year if Gono sticks to his promises. Add to that, Gono’s tepid appeals to the government to sell off none performing parastatals and his call for action from other stakeholder, and what you get is nothing.
Here’s what Gono did, or didin’t do in his policy. Lending rates; stagnant at 500%. Exchange rate; shunted at long outdated paltry rates, and nothing else. Correct me if I’m wrong, but last time checked the sum of nothing is, well, nothing. If anything, this last statement was notable because it was Gono’s thinly disguised concession to Zimbabwe free (sometimes called black) market.
What’s maddening about this is that common Zimbabweans already took fifty punches in their long famished stomachs as prices rocketed in anticipation of Gono’s nil statement. Zimbabwe has a jittery economy which overcorrects for any anticipated shocks. So while Gono, continues to protect his glass house legacy, millions are enduring untold suffering in Zimbabwe. On the streets, where Gono better not go, prices are up, hopelessness is rampant, and there are no jobs.
Doctors have been on strike for almost a month now. Nurses have sporadically followed suit. There are now murmurings of a strike by teachers too. If you’re Zimbabwean, and you look around, nothing is working absolutely nothing. There’s also speculation that the negativity has gotten so overwhelming that some government ministers have tendered their resignations.
If the writing was on the wall before, the pillars of this state are crumbling.