Deputy Chief Secretary to the President and Cabinet, George Charamba poured cold water on an all the excitement civil servants are having after they heard that they will get a US$75 allowance for the next three paydays.
The USD75 allowance if flat across all grades. The USD75 will not come in notes form; it will be a purchasing electronic card to ensure this enhanced buying power does not feed the white market and allows money to circulate within the formal monetary system!! So do not expect cash disbursements.
In other words, the US dollars that will be in your Nostro accounts will not withdrawable as cash – they can only be used electronically. Apparently, earning a US dollar allowance is all in the name only and not in practice.
Some people had planned to withdraw their allowance as soon as they received it and save it under their mattresses but,evidently, that is no longer possible.
This leaves civil servants with only an option to liquidate their electronic US dollars on the market-determined forex auction trading system to do local purchases. But this may not be necessary because soon business will be allowed to charge in US dollars, in which case, civil servants can just use the electronic US dollars as is to purchase of goods and services.