Zimbabwe's central bank chief unpaid

Zimbabwe's central bank chief unpaid

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By Staff Reporter

HE MAY be spending most of his time agonising over how to rescue Zimbabwe's failing economy, but Reserve Bank Governor Gideon Gono has revealed he is yet to get paid for his troubles -- 36 months into the job.

Writing in an exclusive web chat with New Zimbabwe.com readers on Wednesday, Gono found himself accused of paying himself and his staff in US dollars.

"The unfounded allegations that the Governor draws a US dollar salary from the Central Bank are again part of the wider scheme by the Bank’s sworn enemies to distract your Governor from relentlessly pursuing the necessary policies to revive the economy," Gono hit back.

"To put your mind and apprehensions to rest, you may want to know that your Governor has not as yet drawn a penny of salary from the Reserve Bank. Such is the extent of the wide gap between fiction and fact.

"It is, therefore, far from the truth that your Governor is in it for the money. It simply is a national calling."

The Reserve Bank chief and former CEO of the Commercial Bank of Zimbabwe (CBZ) granted the exclusive web chat to mark 36 months in office of his 60-month term.

A New Zimbabwe.com reader tackled the governor to explain how he could have bought two top-of-the-range Mercedes with his RBZ salary.

"It is again misleading to imply that the motor vehicles that you mention have been bought through Bank’s resources," Gono said. "Your Governor has his own legitimate business activities which generate income streams."

Not much is known, at least publicly, of Gono's other business interests since he quit the CBZ to become RBZ governor -- although it is believed he may have share-holding in various companies, some of them in the financial sector.

Zimbabwean politicians and public officials have no strict guidelines compelling them to make declarations about their business interests -- a development that analysts say weakens the government's ability to tackle corruption and stop public officials from enriching themselves.

Zimbabwe is in the throes of its worst economic crisis with the highest inflation in the world of over 1000 percent. Foreign currency shortages have had a ripple effect on collapsing public services and many industries have been forced to shut down while agricultural production has drastically declined.

While economists blame the crisis on President Robert Mugabe's populist policies, including the seizure of commercial farms from white farmers, the Zimbabwean leader points the finger of blame at Britain and Western governments for imposing sanctions and closing international lines of credit.

CLICK HERE to view Governor Gono's web chat with New Zimbabwe.com readers

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