Mnangagwa’s re-engagement drive too slow – IMF

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By Alois Vinga

THE International Monetary Fund (IMF) is not impressed with President Emmerson Mnangagwa re-engagement drive describing it as being “much slower than expected”.

The details are contained in the 2019 Article (IV) consultation report which highlights that Zimbabwe could miss predicted targets politically and economically.

“International reengagement has not advanced. Political reforms have advanced much slower than expected,” the IMF said.

The institution hinted that some legislative pieces have been rebirthed under new titles but still serving old purposes.

“Authorities have signed into law the Maintenance of Order and Peace Act (MOPA), advanced legislation on Access to Information and Protection of Privacy Act (AIPPA),” said the report.

Concern was also raised on the alignment of electoral laws to the constitution saying government is yet to bring to parliament, an Omnibus Bill aimed at accelerating electoral reforms and aligning all national laws with the 2013 Constitution.

The legislative pieces and alignment of laws to the national constitution were singled out by Mnangagwa’s government as barriers towards re-engagement efforts when he took over.

“Ongoing legal reforms should be finalised, including to strengthen the prompt corrective actions and bank resolution regimes.

“Secondary legislation and prudential standards should be updated to ensure that primary legislation can be effectively implemented,” the report recommended.

In his address at the official opening of the Political Actors Dialogue February, Mnangagwa blamed the slow pace of implementing reforms on the poor support from funding partners.

He said support Zimbabwe was receiving from global financiers was very limited but vowed to continue with the reform agenda using available resources.

“We are undertaking these reforms without any support from international financiers…” Mnangagwa said.

The state leader said this will not dampen Zimbabweans’ spirit in whose benefit the reforms were being undertaken.

Other influential global players like the United States of America and European Union have since renewed sanctions on Zimbabwe after failing to get satisfactory results from the current efforts.