Zambia August 2006 |
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| Cross-border traders cry foul, (Times of Zambia, 2006-08-11):-More than 300 cross-border traders in Livingstone have stopped crossing into Zimbabwe for their business following the Zimbabwean government’s directive to ban the use of any other currency other than the US dollar in the purchase of the Zimbabwean currency, and restricting currency purchases to banks only. Livingstone Cross Border Traders Association chairperson Felix Daka said in Livingstone yesterday that the association had since written to the mother body seeking guidance on the way forward. Mr Daka said traders could not make any profit under the new conditions that had been accompanied by the introduction of the new Zimbabwean currency with changed notation to mitigate the high inflation levels being experienced in that country. Under Zimbabwe’s parallel exchange rate before the changes were introduced, the Zimbabwean currency was selling at a far much cheaper rate on the black market than the official outlets like banks and bureaux de change. ‘‘The development has affected our members who have since stopped their business because they cannot cope with the conditions, but we are discussing with our mother body and our counterparts in Zimbabwe to see how, and if, the decision can be revisited,’’ said Mr Daka. The Zimbabwean economy has undergone difficulties over the years with inflation rising to as high as 1,200 per cent, a situation which severely affected the local economy. Mr Daka also bemoaned the introduction of what he termed as the Zimbabwe government’s artificial barriers to trade, including the new requirement for any body dealing in currency exchange to produce a form known as CD 1 before purchasing any merchandise. He said Zambians and Zimbabweans found with Zimbabwean currency would now be arrested if they do not have a CD1 form. And Mr Daka has said cheaply-priced goods of doubtful quality from some Asian markets had flooded the Zambian and Zimbabwean markets and worsened the situation for the traders. | |
South African Migration Project (SAMP) - Queen's University - http://www.queensu.ca/samp |