{"id":78801,"date":"2023-06-08T21:51:10","date_gmt":"2023-06-08T19:51:10","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/idle-zwl21-million-community-development-funds-losing-value-says-mp-as-inflation-rises"},"modified":"2023-06-09T01:10:07","modified_gmt":"2023-06-08T23:10:07","slug":"idle-zwl21-million-community-development-funds-losing-value-says-mp-as-inflation-rises","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/idle-zwl21-million-community-development-funds-losing-value-says-mp-as-inflation-rises","title":{"rendered":"Idle ZWL$21\u00a0million\u00a0Community Development Funds losing value\u00a0\u2013 says MP, as inflation rises"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Zimbabwe. <\/strong><\/span>OPPOSITION MP for Makoni Central has warned of complete erosion of ZWL Community Development Funds (CDF) by inflation if the National Assembly fails to successfully negotiate for an allocation on the Reserve Bank of Zimbabwe\u2019s Auction System.<\/p>\n<p>Speaking in Parliament, MDC-T MP, David Tekeshe, said the CDF funds were lying idle because no-one is willing to trade with RTGS.<\/p>\n<p>Tekeshe appealed to Parliament to engage the RBZ as part of efforts to secure foreign currency.<\/p>\n<p>\u201cMy point is similar to that of Hon. Munengami. I got into a shop today and I was shocked to find that the local currency was around ZW$6 000 and ordinary people can no longer afford bread,\u201d Tekeshe said.<\/p>\n<p>\u201cWe need to come to the point of CDF, which is just lying idle because no-one wants the RTGS and they charge the black-market rate.<\/p>\n<p>\u201cThe request is that if Parliament could negotiate to benefit from the auction floor so that this is looked into because ZW$21 million has gone down to US$4 000 and is no longer enough for the constituency,\u201d he added.<\/p>\n<p>In response, acting speaker of Parliament, William Mutomba, said the Minister of Finance has a case to answer in line with spiralling exchange rates.<\/p>\n<p>\u201cThis is a valid point Hon. Member. We are going to notify the responsible authority, particularly the Minister of Finance and Economic Development, so that he looks into the issue of CDF which is ZW$21 million,\u201d Mutomba said.<\/p>\n<p>\u201cIndeed, it has been eroded by inflation and as inflation continues, it continues to lose its value,\u201d he added.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/zimbabwe\">Zimbabwe<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Zimbabwe. OPPOSITION MP for Makoni Central has warned of complete erosion of ZWL Community Development Funds (CDF) by inflation if the National Assembly fails to successfully negotiate for an allocation on the Reserve Bank of Zimbabwe\u2019s Auction System. Speaking in Parliament, MDC-T MP, David Tekeshe, said the CDF funds were lying idle because [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":78800,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[1493,2189,19],"class_list":{"0":"post-78801","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-africa-press","10":"tag-africa-press-zimbabwe-2","11":"tag-zimbabwe"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Idle ZWL$21\u00a0million\u00a0Community Development Funds losing value\u00a0\u2013 says MP, as inflation rises - zimbabwe<\/title>\n<meta name=\"description\" content=\"OPPOSITION MP for Makoni Central has warned of complete erosion of ZWL Community Development Funds (CDF) by inflation if ...\" \/>\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\/idle-zwl21-million-community-development-funds-losing-value-says-mp-as-inflation-rises\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Idle ZWL$21\u00a0million\u00a0Community Development Funds losing value\u00a0\u2013 says MP, as inflation rises\" \/>\n<meta property=\"og:description\" content=\"OPPOSITION MP for Makoni Central has warned of complete erosion of ZWL Community Development Funds (CDF) by inflation if ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/idle-zwl21-million-community-development-funds-losing-value-says-mp-as-inflation-rises\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-08T19:51:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-08T23:10:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/06\/sm_1686249495.843625.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"505\" \/>\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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/idle-zwl21-million-community-development-funds-losing-value-says-mp-as-inflation-rises\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/idle-zwl21-million-community-development-funds-losing-value-says-mp-as-inflation-rises\",\"name\":\"Idle ZWL$21\u00a0million\u00a0Community Development Funds losing value\u00a0\u2013 says MP, as inflation rises - 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