Zimbabwe. Professor Mthuli Ncube is the New Finance Minister

goldsilverratio · Sep 8, 2018

Zimbabwe. Professor Mthuli Ncube. New Finance Minister
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Over Time We Have To Bring Back The Zim Dollar: Professor Mthuli Ncube. 5 Ways To Kickstart Zimbabwe’s Economic Recovery ? TayanaAugust 30, 2018 ?
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https://news.pindula.co.zw/2018/08/...ays-to-kickstart-zimbabwes-economic-recovery/
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Professor Mthuli Ncube announced as Finance Minister for new cabinet in Zimbabwe on On 7 September 2018 ? Professor Thuli holds a PhD in Mathematical Finance from Cambridge University ?
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Academic career ( BSc (ECON), PhD, MPhil, BScHons ) Before joining the African Development Bank , he was dean and professor of finance at Wits Business School and then dean of the faculty of Commerce, Law and Management at the University of the Witwatersrand (Wits) as well as a lecturer in finance at the London School of Economics ?
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He has published a number of award-winning papers in the area of finance and economics as well as four books. namely: Mathematical Finance; South African Dictionary of Finance; Financial Systems and Monetary Policy in Africa; and Development Dynamics: Theories and Lessons from Zimbabwe; and a book manuscript on Finance and investments in South Africa ?
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https://en.wikipedia.org/wiki/Mthuli_Ncube

fordewind · Sep 8, 2018

Zabit Nurmagamedsharipov wants his nickname "ZaBeast"

SunTrader · Sep 8, 2018

Or how about Zabit Daba Do.

But seriously, does anyone care much about Zimbabwe or what currency they use?

What are they the 80th or maybe even 180th size GDP?

toc · Sep 8, 2018

It does not matter if a Noble Prize winner with Goldman Sachs experience is at the top.

In the third world, what matters is how well the system is able to handle/win over corruption and resulting inefficiencies in the economic machine.

Sig · Sep 8, 2018

SunTrader said:
Or how about Zabit Daba Do.

But seriously, does anyone care much about Zimbabwe or what currency they use?

What are they the 80th or maybe even 180th size GDP?

If you're into things like currency you're interested in Zimbabwe because of it's extreme inflation which has been orders of magnitude greater then any other in recent times. If you're not interested in currency, may I suggest hanging out somewhere other than a currency forum. Perhaps TMZ?

SunTrader · Sep 8, 2018

Sig said:
If you're into things like currency you're interested in Zimbabwe because of it's extreme inflation which has been orders of magnitude greater then any other in recent times. If you're not interested in currency, may I suggest hanging out somewhere other than a currency forum. Perhaps TMZ?

I am interested in currencies and actually trade 'em. How about you.

But I'm not interested in Monopoly Money currencies.

I notice you mentioned nothing pro or con about Zimbabwe.

You do seem to know about TMZ though.

goldsilverratio · Sep 8, 2018

What can Africa learn from Venezuela’s paradox ? The paradox is Venezuela’s People are hungry ? But farmers can’t feed them ?
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Outside the capital of Caracas in the countryside of Venezuela, there’s everything a farmer needs ? Fertile land, water, sunshine and the cheapest gasoline in the world ?
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However instead of the cheap gasoline spurring growth in domestic agriculture ? Growth has been strangled ? Sugar mills nationalized since 2005 are paralyzed or producing below capacity ?
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The decision to be the producer, processor and distributor ? Has resulted in the entire chain of food production to suffer from an inefficient agricultural bureaucracy ?
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Accelerated nationalization of farms and the seizing of more than 10 million acres of land ? Has resulted in domestic food production plummeting ?
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Economists are now warning that Venezuela’s disaster is man-made ? The disaster is the result of CURRENCY DISTORTIONS ? Farm nationalizations, expropriation of factories and the takeover of food distribution ?
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https://www.washingtonpost.com/worl...ory.html?noredirect=on&utm_term=.f7846b79c1dd

toc · Sep 9, 2018

goldsilverratio said:
What can Africa learn from Venezuela’s paradox ?

The lesson is "Do not try to reinvent communism or hard core socialism". These systems have been "tried, tested........over long time.........around the world and FAILED". PERIOD !!!

Follow the Canadian or British model of free market economies with free healthcare and some social support programs like temporary welfare, unemployment etc for those fallen into hard times.

Finally even free market systems will fail or struggle if corruption is heavily practiced in the daily goings of the society.

goldsilverratio · Sep 9, 2018

Zimbabwe. Professor Mthuli Ncube. Over Time We Have To Bring Back The Zimbabwe Dollar ? ( See below an excerpt of the Professor Thuli Cube article )
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What I would argue now is that we remove the bond notes currency because it is becoming a surrogate currency to the Zimbabwean dollar without the macro economic credibility to support it. The bond note currency is bad money and we know that in economics, bad money drives out good money.
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It’s not surprising that the US dollar is now in short supply because people are not banking them. So the immediate course of action is to remove the bond notes and then let the US dollar become the core currency but over time we have to bring back the Zimbabwe domestic currency. That’s what will deal with liquidity issues in a big way.
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https://news.pindula.co.zw/2018/08/...ays-to-kickstart-zimbabwes-economic-recovery/

Sig · Sep 9, 2018

SunTrader said:
I am interested in currencies and actually trade 'em. How about you.

But I'm not interested in Monopoly Money currencies.

I notice you mentioned nothing pro or con about Zimbabwe.

You do seem to know about TMZ though.

You asked a question, I answered it.

My view of the world doesn't require everything be neatly divided into a pro or a con. Intellectual curiosity doesn't require that, and crazy as it may sound to you, I and many others can and do trade forex while at the same time being interested in all facets of economics and finding the edge cases fascinating even if not offering an immediate trading opportunity. If your view of the world is narrow enough that it hurts you to view posts that demonstrate intellectual curiosity, again I'd suggest you either move along to a more suitable site or simply not read posts that don't conform to you way of viewing the world. It will make you and the rest of the world happier.