21 July 2017
   
Appeal for funds as SDA church gutted by fire
Freeze on wages stays, Bob to decide
Govt pays $134 m to evicted white farmers
Used condoms in school bus after Bob rally
Bhasikiti fumes as Mutasa begs Mugabe
Nivuk issue a shame to Zim, says Mujuru
Min heaps war vets rot blame on Hunzvi
Only mass action can remove Mugabe: Biti
MORE NEWS
Govt: $8m airtime tax collected since Jan
Chinamasa: Budget defict unlikely in 2017
MORE BUSINESS
Reincarnation of the Zig Zag band
Chipanga to Bob: Please free Zimbabwe
MORE SHOWBIZ
Injuries, commitments deplete Warriors camp
Team Zim UK U17 players for national duty
MORE SPORTS
Why Africans resent their leaders
From Ian Douglas to Robert Gabriel Smith
MORE OPINION
 
The challenges for Pan-Africanism
UK: Zimbabwe's sad house in London
MORE COLUMNISTS
 
 

Chinamasa responsible for Zim financial crisis – opposition

19/05/2017 00:00:00
by Staff Reporter
 
Finance minister Patrick Chinamasa
 
RELATED STORIES
IMF: Excesive govt spending slows Zim
$1.7bln debt deal cricial - Chinamasa
Zim nears $1.7b debt deal: Chinamasa

TREASURY chief Patrick Chinamasa is the worst finance minister the country has been burdened with since the pre-independence era, the People’s Democratic Party (PDP) has said.

PDP said the minister is responsible for the financial crisis facing the country as he has tolerated gluttonous spending by government through robbing people's deposits from the central bank.

The International Monetary Fund (IMF), which the treasury chief is hoping will resume financial support for the cash-strapped Harare administration, recently expressed concern over the “excessive” government spending.

PDP said the IMF’s statement confirmed widely-held views that the treasury chief’s policies were wrecking the country even further.

"Without being express, the statement confirms what everyone knows in Zimbabwe that Chinamasa’s voodoo economics have destroyed this country’s economy and that Chinamasa himself is easily the worst manager of this economy in the 126 years of its modern existence," said party spokesman Jacob Mafume.

"Regrettably this economy is on its knees because of hooligans in Zanu PF who, like broiler chickens, believe that you can eat irrespective of source and the reason.

“They suffer from a disease called Fiscalities which is the belief that money grows on trees."

The IMF, commenting after a recent visit to the country, warned against the government’s excessive consumptive spending, saying this was also responsible for cash shortages in the country.

Nearly a year ago, the Fund recommended that government significantly trims its wage bill which currently stands at about 93 percent of State revenues.

"Another point of concern confirmed by the IMF confirms is that the government has employees on the pay roll who serve no purpose,” said Mafume.

“Our position has always been that the government pay roll was dominated by ghost workers employed as part of Zanu PF rigging machinery; several audits revealed this fact but Zanu PF by its own admission is not willing to reform itself out of power."

Chinamasa twice sought to suspend civil service bonuses without success. President Robert Mugabe ordered the payment of the 13th cheque, leaving the minister scrambling for funds to meet the commitment.

Government has been non-committal on implementing the civil service reforms, fearing the political impact with crunch general elections due next year.



Advertisement

Critics also argue that the reforms should start with cutting down on executive spending, particularly the frequent foreign trips by President Robert Mugabe which gobble millions in public funds.

"We have also argued that the centre piece of any government policy must be to restore production. Zanu PF’s failure to create conditions in respect of which the economy is grown and jobs are created will always harm this economy," said Mafume.


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark
 
 
 
comments powered by Disqus
 
RSS NewsTicker