Currency manipulators to be punished: President

Main Story Zimbabwe

Sharon Munjenjema

Zimbabwe’s President Emmerson Mnangagwa says currency manipulators in the country have been identified and will soon face the music.

Lately, the Zimbabwe dollar has been on a free fall when pegged against the United States dollar with the black market rate breaching the 300-dollar mark.

The president was addressing the Zanu PF Central Committee in Harare. This is the first time in two years that the committee is meeting in full capacity, due to Covid-19 restrictions.

Addressing the delegates, President Mnangagwa said individuals and entities engaging in criminal activities that are resulting in inflation and the fall of the Zimbabwean dollar against the United States dollar will be punished.

“Government is addressing the recent runaway exchange rate and spikes in prices of basic goods and services resulting from both imported inflation and criminal activities and entities we are identifying and going to punish,” he said.

President Mnangagwa urged citizens to desist from massive profiteering at the expense of the public.

“Let us be responsible citizens who are averse to profiteering and the suffering of our people. “Equal attention must be placed on increasing the GDP of our respective provinces through enhanced production and productivity as well as job and wealth creation,” he said.

The committee is expected to receive updates on party activities. Updates on progress of preparations of the Youth and women’s elective congresses to be held in May and June respectively, will also be discussed during the meeting.

The President also updated the Central Committee on his meeting with Dubai billionaire Shaji Ul Mulk at state house earlier on Friday where deals in construction, technology and health were clinched.