Zimbabwe Communist Party statement on Monetary Policy

Zimbabwe Communist Party statement on Monetary Policy
Published: 21 February 2019 (240 Views)
The underlying position of the ZCP on any government policy declaration including this one is neither to automatically oppose nor to automatically endorse. Our task is to defend the interests of the workers, peasants and poor and as such to study each proposal and its implementation on its merits. In considering the proposals made by the RBZ Governor in his Monetary Policy Statement for 2019 we can make the following comments:  
 
1)    The RTGS dollar has correctly been characterised as an electronic extension of the Bond Note dollar and not separate from it. We welcome this clarification.  
 
2)    The separation RTGS/Bond Note dollar from the fictional 1:1 parity rating with the US dollar is also welcomed. The ZCP sees this as a minor victory for the working-class and for common sense.  
 
3)    This move will now reveal the true extent of the deterioration of workers' wages.  Our trade unionists must study both the proposals and the implementation of these proposals when pushing forward their demands for a living wage. Wage demands now need to be related to earlier agreements stipulated in US dollars  
 
4)    As we have pointed out previously, there is very strong evidence to suggest that the currency black market is linked to officials at RBZ. Although the new regulations should restrict the black market, we need to monitor closely how it will continue to operate. We are concerned that no investigative or disciplinary action has been taken concerning individuals previously implicated in corruption.   
 
5)    In Section 2.1. vii p.11 of the Statement, it says"  
 
"Foreign currency requirements for Government expenditure and other essential commodities that include fuel, cooking oil, electricity, medicines and water chemicals shall continue to be made available through the existing letters of credit facilities and/or  
the Foreign Exchange Allocations Committee."  
 
In other words, certain necessities will be given priority when using Forex and will not be subject to the same regulations. Under other conditions, this provision would be commendable, but in Zimbabwe, we have state capture by the multi-national oil company, Trafigura, headed in Zimbabwe by Kudakwashe Tagwirei. Trafigura has a monopoly on the oil pipeline running from Beira, Mozambique and built with public funding. For Trafigura to have special access to Forex under the current conditions becomes problematic.  
 
 
 
 
6)    The ZCP was the first to call for a National Economic Dialogue and continues to do so. But we reject any notion of dialogue which does not include organised labour, at present led by the ZCTU. In this context, we demand from the government.  
 
a)    The dropping of all charges against trade unionists arrested in the recent disturbances over fuel price increases.  
 
b)    The inclusion of organised labour in the National Economic Dialogue.  
 
 
The ZCP blames the world capitalist system, particularly capitalism in its neo-liberal form, for our crisis. We identify both the general deterioration of the living standards of all but the very rich across the globe and the destabilisation of society since the domination of neo-liberal political economy and ideology dating from the early 1980s. Had the pre-ESAP policies remained in place at the time of the imposition of sanctions by the US/UK led Axis powers, the effects of those sanctions would have been negligible.  
 
The ZCP also blames most of the specific problems of Zimbabwe on the greed of our leaders who dropped the Marxist-Leninist ideology which had informed the actions which brought them to power in 1980 as soon as it became convenient. Instead of empowering and uplifting the masses through the socialisation of production, soon after the introduction of ESAP, they introduced the policy of "Indigenous Empowerment" which led to the formation of a parasitic bourgeoisie engaged in an orgy of looting and ultimately to economic collapse.  
 
On behalf of the ZCP Secretariat   
Ngqabutho Nicholas Mabhena  
General Secretary  
+27 83 340 1000 (South Africa)  
generalsecretary@zimbabwecommunistparty.org        
 
Ian Beddowes  
National Political Commissar  
+27 60 440 3137  nationalcommissar@zimbabwecommunistparty.org  
 
Bongani Mkwananzi
National Spokesperson +27 73 984 0241
spokesperson@zimbabwecommunistparty.org`



- ZCP

 0

You May Like These Videos

Comments

There are no comments.

Latest stories

List of Zimbabwean celebrities who became politicians

by Mandla Ndlovu | 22 April 2019 | 160 Views

NSSA pensioners are 'dying a little each day'

by Tondo | 22 April 2019 | 104 Views

The Gukurahundi Solution

by The Gukurahundi Solution | 22 April 2019 | 91 Views

Is there the biblical 'Lot's wife' among us?

by Tondorindo | 22 April 2019 | 98 Views

Just enjoying our Katuruturu as it is now Zituruturu

by MuHwisiry Chaiyeiye | 22 April 2019 | 85 Views

'Army now fed up with civilians' Jonathan Moyo says

by Mandla Ndlovu | 22 April 2019 | 157 Views

WATCH: Apostle Vutabwashe blasts Mnangagwa's government

by Mandla Ndlovu | 22 April 2019 | 172 Views

Analysts defend Tinashe Kachingwe

by Mandla Ndlovu | 22 April 2019 | 103 Views

'Corruption and cronyism worrying Mnangagwa' ZANU PF MP says

by Mandla Ndlovu | 22 April 2019 | 135 Views

ZANU PF launches 10 000 youths to fight for a mine?

by Mandla Ndlovu | 22 April 2019 | 134 Views

Cyclone Idai victims resist tent homes

by Staff reporter | 22 April 2019 | 96 Views

Price controls the only way to go, says Mutodi

by Staff reporter | 22 April 2019 | 93 Views

Chamisa faces VPs Dilemma

by Staff reporter | 22 April 2019 | 115 Views

Cyclone Idai donations 'looting' soldiers freed

by Staff reporter | 22 April 2019 | 82 Views

Churches taking anti-sanctions crusade to opposition parties

by Staff reporter | 22 April 2019 | 77 Views

Registrar of Deeds dragged to court

by Staff reporter | 22 April 2019 | 66 Views

Chamisa urged to back Mwonzora's bid

by Staff reporter | 22 April 2019 | 103 Views

Bosso, Dembare beaten again

by Staff reporter | 22 April 2019 | 88 Views

Minister fouls Mnangagwa's plans fouled by Owen Ncube

by Staff reporter | 22 April 2019 | 103 Views

Tsvangirai turning in his grave, says daughter

by Staff reporter | 22 April 2019 | 81 Views

Mnangagwa pleads with Diasporans

by Staff reporter | 22 April 2019 | 80 Views

Chamisa unveils Mwonzora, Mudzuri rescue plan

by Staff reporter | 22 April 2019 | 80 Views

11 dead in kombi, Honda fit head-on accident

by Staff reporter | 22 April 2019 | 93 Views

War vets slam bread price hike

by Staff reporter | 22 April 2019 | 129 Views

Charumbira calls for truce in boundary row

by Staff reporter | 22 April 2019 | 107 Views

Mnangagwa hopeful on economy

by Staff reporter | 22 April 2019 | 121 Views

Revolution is the great teacher

by Reason Wafawarova | 22 April 2019 | 100 Views

Econet raises RTGS$479 287 for Idai relief through EcoCash

by Staff reporter | 22 April 2019 | 87 Views

Chief Mvuthu's family in fresh wrangle

by Staff reporter | 22 April 2019 | 88 Views

'Mnangagwa to crack whip on errand businesses'

by Staff reporter | 22 April 2019 | 90 Views

Artisanal miner shot dead

by Staff reporter | 22 April 2019 | 90 Views

'Zimbabwe public finances in bad shape'

by Staff reporter | 22 April 2019 | 44 Views

It's time for South Africa to rethink the economy

by Tapiwa Gomo | 22 April 2019 | 85 Views

'Mnangagwa won't take Zimbabwe anywhere'

by Staff reporter | 22 April 2019 | 100 Views

Military rifle recovered from poachers

by Staff reporter | 22 April 2019 | 93 Views

MDC led council not going back on tariff increase

by Staff reporter | 22 April 2019 | 81 Views