[Clive]

So the Cabinet Minister gets his foreign exchang at the rate of Z55.75 to US$1.00 while the parallel exchange rate is actually between Z$800.00 and Z$1,000.00 to USS$1.00.

The parallel rate represents the true price of the foreign money, which is what a willing buyer will pay to a willing seller.

As a matter of curiosity, while in a shopping mall in Toronto last week I went to the Thomas Cook foreign exchange booth to ask what it was quoting on Zim dollars.

I was told that Zim money was not being traded in either direction anywhere in Canada at any price.

In effect, the Zim money is worthless and the Cabinet Ministers are simply stealing the foreign currency from the bank's shareholders.

[Clive]

-

[blam]

"In effect, the Zim money is worthless and the Cabinet Ministers are simply stealing the foreign currency from the bank's shareholders."

So, they get the money on their terms or someone gets shot, huh?

[fineright]

Still waiting for the chefs.