Government has just gone through another monetary shift throwing the country into confusion and exhibiting a high level of indecisiveness and lack of a comprehensive plan.
The resurfacing of the Foreign Exchange Auction Trading System, previously brought in by former Reserve Bank Governor Gideon Gono to no progress, shows the leaders are merely plodding around in search of anything that may work.
On the market the lower end bond currencies are losing value and being pushed out. The latest has been the $2 bond note which is no longer accepted.
This is despite monetary authorities coming out to reassure the public that the money is still legal tender.
In the midst of this vortex of currency devaluation and monetary indecisiveness the Harare City Council has backdated bills for rates to January 2020.
The result has been the delivery of hefty bills for residents most of whom have not been working due to the Covid-19 lockdown.
The weight of the situation is proving to be heavy on many who are now feeling hefted on all sides by the country’s situation.
It’s already safe to assume that many are going to fail to pay those Council bills because they simply do not have the money.
Council has previously said it is owed almost a billion ZWL$ by the public but with this turn of events another safe projection is that the burden of debt is about to start growing again.
Most damaging for the Council is that the monetary figure may rise but the value of the money will remain or grow lower as the bond note and RTGS currencies continue shedding off value against the US$ against which prices are now being indexed.
It’s a sorry situation for both ends from which no winner will emerge.
The chain effect will be an inability to rehabilitate service delivery systems and an inability to sustain general operations of Council.
It’s a bleak path that the city has been on for a long time and this generally becomes a continuation of the same old story.
Harare isn’t about to escape any bleak service delivery narrative.
We are still in this for the long haul.