{"id":78362,"date":"2023-05-29T11:06:54","date_gmt":"2023-05-29T09:06:54","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncubes-threats-will-worsen-zimbabwe-crisis-jonathan-moyo"},"modified":"2023-05-29T14:28:07","modified_gmt":"2023-05-29T12:28:07","slug":"mthuli-ncubes-threats-will-worsen-zimbabwe-crisis-jonathan-moyo","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncubes-threats-will-worsen-zimbabwe-crisis-jonathan-moyo","title":{"rendered":"Mthuli Ncube\u2019s threats will worsen Zimbabwe crisis \u2013 Jonathan Moyo"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>EXILED former cabinet minister, Jonathan Moyo has warned that the recent threats by Finance minister Mthuli Ncube to crack down on businesses over price hikes will only worsen the already dire situation.<\/p>\n

The recent collapse of the Zimbabwean dollar against the USD has resulted in price hikes in supermarkets which are now doubling prices, making commodities more expensive in a bid to break even.<\/p>\n

In an interview with the state-run Sunday Mail, Ncube promised a crackdown on big businesses which he accused of allegedly conniving with illegal foreign currency traders, as well as retailers who unjustifiably raise prices of basic goods.<\/p>\n

Ncube said the price hikes were unjustifiable warning government would force them out of business by withdrawing their licences.<\/p>\n

But Moyo, who had earlier last week accused Ncube of turning a blind eye to the deteriorating economic situation took another swipe at the under-pressure Finance Minister over his threats of a crackdown on businesses.<\/p>\n

\u201cOne key defining feature of human beings as a species is that a better today is an expression of past experiences and lessons learnt. One compelling lesson learnt is that the national economy is at all times best managed through economic policy, to influence and shape desirable economic choices and economic behaviour that benefit the common public good,\u201d Moyo wrote on Twitter.<\/p>\n

\u201cIn this connection, a crackdown of whatever kind is not an economic policy. It\u2019s the sort of thing that can easily make a bad situation worse.<\/p>\n

He added: \u201cAs seen in the past, when \u2013 as is now happening- retailers start pricing their goods in US dollars [instead of the precipitously falling rtgs ZWL] amid spiralling price hikes across the economy; and then that gets the authorities to respond by threatening or effecting a crackdown on businesses, goods predictably disappear from supermarket shelves and find their way in the darkmarket in streets and backyards.<\/p>\n

\u201cFor many reasons, it would be prudent for the authorities to find better policy interventions than the threatened crackdowns, whose deleterious consequences on supermarket shelves, consumer pockets and dinner tables are now well known!\u201d<\/p>\n

United Refineries chief executive officer (CEO) Busisa Moyo also added his thoughts on the current crisis this Sunday on Twitter.<\/p>\n

\u201cMultiple exchange rates and absence of a \u2018formal and market accepted single exchange rate\u2019 for prices, incomes and wages are the root cause of the current Zimbabwean crisis.\u201d<\/p>\n

He lamented: \u201cFor the Rand, we know it\u2019s ZAR19.30 but for the ZWL, we have four rates causing arbitrage. We have gone too long with this anomaly.\u201d<\/p>\n

Due to exchange rate disparities and hyperinflation, prices of goods continue to sour with people calling for the use of one currency or for government to consider dollarising the economy.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. EXILED former cabinet minister, Jonathan Moyo has warned that the recent threats by Finance minister Mthuli Ncube to crack down on businesses over price hikes will only worsen the already dire situation. The recent collapse of the Zimbabwean dollar against the USD has resulted in price hikes in supermarkets which are now […]<\/p>\n","protected":false},"author":84,"featured_media":78361,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,8,35,12,2715],"tags":[1493,2189,19],"class_list":["post-78362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","category-to-homepage","tag-africa-press","tag-africa-press-zimbabwe-2","tag-zimbabwe"],"yoast_head":"\nMthuli Ncube\u2019s threats will worsen Zimbabwe crisis \u2013 Jonathan Moyo - zimbabwe<\/title>\n<meta name=\"description\" content=\"EXILED former cabinet minister, Jonathan Moyo has warned that the recent threats by Finance minister Mthuli Ncube to cra ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncubes-threats-will-worsen-zimbabwe-crisis-jonathan-moyo\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mthuli Ncube\u2019s threats will worsen Zimbabwe crisis \u2013 Jonathan Moyo\" \/>\n<meta property=\"og:description\" content=\"EXILED former cabinet minister, Jonathan Moyo has warned that the recent threats by Finance minister Mthuli Ncube to cra ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncubes-threats-will-worsen-zimbabwe-crisis-jonathan-moyo\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-29T09:06:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-29T12:28:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/05\/sm_1685347037.789431.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncubes-threats-will-worsen-zimbabwe-crisis-jonathan-moyo#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncubes-threats-will-worsen-zimbabwe-crisis-jonathan-moyo\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mthuli Ncube\u2019s threats will worsen Zimbabwe crisis \u2013 Jonathan Moyo\",\"datePublished\":\"2023-05-29T09:06:54+00:00\",\"dateModified\":\"2023-05-29T12:28:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncubes-threats-will-worsen-zimbabwe-crisis-jonathan-moyo\"},\"wordCount\":473,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncubes-threats-will-worsen-zimbabwe-crisis-jonathan-moyo#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/05\/sm_1685347037.789431.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zimbabwe\",\"Zimbabwe\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncubes-threats-will-worsen-zimbabwe-crisis-jonathan-moyo#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncubes-threats-will-worsen-zimbabwe-crisis-jonathan-moyo\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncubes-threats-will-worsen-zimbabwe-crisis-jonathan-moyo\",\"name\":\"Mthuli Ncube\u2019s threats will worsen Zimbabwe crisis \u2013 Jonathan Moyo - 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