Government must either reintroduce the Zimbabwean dollar or ensure that key services are not charged in foreign currency if it’s serious about criminalizing trade of foreign currency on the parallel market.
The directive by the government for banks to separate Nostro accounts from Real Time Gross Settlement accounts creates panic and antic in the financial sector .
People stampeded to get rid of their RTGS and engaged in panic buying hoarding goods such cement and bricks. Traders immediately adjusted their prices of goods just above the parallel market rate of the US dollars. Service providers such as builders , barbers and others also adjusted their prices accordingly.
Health providers are demanding US dollars . Critical services have become inaccessible to the majority of poor Zimbabweans.
However salaries of civil servants and others have not been adjusted accordingly to reflect the new reality.
Government must therefore immediately look into reintroducing the Zimbabwean dollar to ensure that the majority of Zimbabweans can have access to basic commodities.
With government criminalizing foreign currency trading without addressing service providers demanding foreign currency most people are like to face more hardships especially those in need of healthcare.
Desperate citizens have resorted to sourcing foreign currency on the black market in order to access treatment or medication . Government has therefore sentenced all these people to death if it does not avail foreign currency to them or force service providers to refrain from charging in foreign currency.