Chinamasa, Mangudya deserve our support

HARARE - Finance minister Patrick Chinamasa and Reserve Bank of Zimbabwe (RBZ) governor John Mangudya will this week have a chance to negotiate a better deal in relation to the country’s external debt with the World Bank and the International Monetary Fund in Lima, Peru.

Since assuming office almost two years ago, these two gentlemen have fought tooth and nail — albeit all on their own — to revive Zimbabwe’s moribund economy.

However, their efforts have found no takers in Zanu PF as most government officials are busy with the vicious and fatal factional fights that are rocking the former liberation war movement.

To show the cluelessness and empty policy-rhetoric in Zanu PF, no single minister — except Chinamasa — has ever enunciated economic reforms or any issues affecting the economy.

This goes to show that either the Zanu PF ministers are empty-headed and have no inclination of where this economy is headed, or they are plain stupid.

The recent utterances by one Patrick Zhuwao – the newly-appointed Indigenisation minister over foreign direct investment and the proposed indigenisation levy – exposes the disconnection between the minds of key policymakers as well as the generational challenge that faces Zimbabwe.

It is our fervent hope that Chinamasa and Mangudya will not be dissuaded from their quest of a progressive Zimbabwe by hallucinations of vacuous and economics illiterate ministers littering President Robert Mugabe’s cabinet.

That’s what happens when ministers are hand-picked due to their relationship with leaders instead of being chosen on merit. All they care about is lining their pockets and not about the welfare of Zimbabweans through international re-engagements.

Chinamasa and Mangudya must fully utilise the 2015 Macro-economic and Financial Management Institute of Eastern and Southern Africa combined annual forum for ministers of Finance and financial organisations, including the World Bank, to get all the help the country needs.

The one-day forum, running under the theme: “Leveraging on natural resources for economic transformation” provides a unique platform for Zimbabwe to leverage on our natural resources to transform the economy.

This way, the country will be in a better position to use its gains from natural resources to expand investment in infrastructure to generate more revenue for the budget so that we can minimise borrowing.

It is a public secret that Zimbabwe is struggling with a $10 billion debt and with the recent assumption of the central bank’s $1,3 billion debt, the country is likely to break-down from the heavy arrears.

However, with better utilisation of the natural resources and an improved generation of the revenues from natural resources we should be able to address the current debt overhang problem.

Post a comment

Readers are kindly requested to refrain from using abusive, vulgar, racist, tribalistic, sexist, discriminatory and hurtful language when posting their comments on the Daily News website.
Those who transgress this civilised etiquette will be barred from contributing to our online discussions.
- Editor

Your email address will not be shared.