De-dollarisation is a sensitive subject and a process driven exercise and therefore, not a once off survey study. In this regard, it would be appropriate to undertake a similar exercise at an appropriate time in future to evaluate the progress on the performance of conditions precedence before reintroducing the local currency. As put forward by (Rasmus, Leicher, and Menkulasi, 2009), establishing the credibility of macroeconomic policy is essential and it takes time. The objective of such a study will therefore be to ensure that all the critical conditions including public confidence satisfies the reintroduction of the local currency.
66
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70
APPENDICES
Appendix 1: Cover Letter to the Questionnaire
Dear Respondent
The researcher (Jonah Mushayi) is an MBA student at the University of Zimbabwe and is undertaking a study as a partial fulfilment of the MBA requirements. The research topic is: DOLLARISATION AND OPTIMAL DEDOLLARISATION FRAMEWORK FOR ZIMBABWE. Your assistance in completing the questionnaire during your precious time is greatly appreciated. The estimated time to complete the questionnaire is ten minutes.
For any queries do not hesitate to contact J.Mushayi at [email protected].
The researcher shall also treat with utmost confidentiality any company information got during the study. The overall results of the study shall be used purely for academic purposes.
Please tick box under or next to where optimal answers are provided, and give explanatory answers where optional answers are not provided.
Thank you
71 Appendix 2: Questionnaire
SECTION A
Name (Optional) ...
Gender
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Marital Status
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Company/organisation (Optional) ...
Nature of Business ...
Physical Address ...
SECTION B
1. It is now over four years since the country adopted multiple currencies. What has been your experience with the use of the multiple currencies in the country?
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2. In your own view, do you think the multiple currencies have served the nation well? Give reasons?
Benefits
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Drawbacks
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3. What are the associated challenges if any being experienced with the multiple currencies and how best could they be addressed?
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4. What do you think are the specific preconditions that should precede the reintroduction of the Zimbabwe dollar?
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5. In your opinion, are there any specific criteria (such as the often cited level of capacity utilisation in manufacturing) that should be met before de-
dollarisation?
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6. Given the current economic performance, should the reintroduction of the Zimbabwe dollar be the immediate policy objective of Government? Give reasons?
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7. If your answer in NO to above, what is the appropriate timing for the reintroduction of the Zimbabwe dollar?
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8. In your view, how best should the reintroduction of the Zimbabwe dollar be approached, without destabilising the macroeconomic environment?
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9. Please rank the following (first - preferred option and last-least desirable) potential options for de-dollarisation for Zimbabwe.
a) stay dollarised but drop other currencies (Rand, Euro etc) b) Peg to the rand
c) await the (eventual) introduction of a common currency for SADC d) peg to the Chinese RMB
e) Re-introduced the Zimbabwe dollar f) Peg to the Euro
10. Do you think that a viable option would be to retain the multi-currency regime(and/or the Us dollar), but reintroduce the Zimbabwe dollar and let it circulate alongside currencies as legal tender in the hope that eventually public confidence in the local currency will be restored?
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