US$1.1 Million given to Zimbabwe by IMF may vanish on arrival- says Mnangagwa’s apologist

Finance Minister Mthuli Ncube

Former ZANU-PF Member of Parliament for Chivi South Killer Zivhu says the US$1.1 billion which Zimbabwe is expecting to receive from the International Monetary Fund (IMF) any time soon may be looted upon arrival.

Zivhu bemoans rampant corruption in President Emmerson Mnangagwa’s government, says the money from IMF could be looted just like what happened to the US$15 diamond revenue which disappeared into the thin air.

“1 Billion yadayi kuuya iyi haichatizi yoga se 15 Billion yakangotiza ikasaonekwa kana ma Diamonds aya anonzi akangotiza mu Building.

“Zvomuno hazvizivikamwi 1 Billion inogana kungotiza musi wainosvika sedzimwe mari dzaingotiza dzoga,” he says.

This comes after IMF MD Kristalina Georgieva announced US$650 billion Special Drawing Rights (SDR) yesterday.

The funding is meant to rescue the global economy and which has been ravaged by the Covid-19 pandemic and its devastating effects.

The country is entitled to SDR800 million, which is around US$1.1 billion.

Meanwhile, Georgieva pointed out that the funds would benefit all members, address the long-term global need for reserves, build confidence, and foster the resilience and stability of the global economy.

“SDRs are a precious resource and the decision on how best to use them rests with our member countries.

“For SDRs to be deployed for the maximum benefit of member countries and the global economy, those decisions should be prudent and well-informed,” she said.

Apparently, over the years, Harare had been blamed for misplaced priorities amid rampant corruption.

There has been alleged lack of transparency in how public funds are utilised.

Zwnews