Source: JUST IN: Minister Ncube on Financial plan | The Herald 10 SEP, 2018
Tobias Mudzingwa Online Correspondent
Newly appointed Finance and Economic Development minister Professor Mthuli Ncube says one of his immediate goals as minister will be to re-engage international financiers such as the International Monetary Fund and the World Bank through clearing arrears Zimbabwe has with these bodies.
Speaking to journalists after the swearing in ceremony of ministers and deputy ministers at State House this morning, Prof Ncube said he will work towards the return of a local currency and also cut Government expenditure.
Prof Ncube said reducing the civil service was not the only solution to cutting the Government wage bill but ensuring efficiency was an option to counter the burden of Government expenditure.
He said the re-branding of Zimbabwe will be of importance in luring business into the country.
More to follow…
COMMENTS
The president must be congratulated for appointing the professor to head the fimance ministry. Zimbabwe will shine this time around.
I just returned to New York from spending 8 days in Zimbabwe. We plan to launch a US$ 150 million Healthcare fund rolling in some healthcare assets in and around Harare. What would be helpful is if Professor/Minister Ncube “regularizes” the Z dollar making it convertible and possibly linked to the USD. He might consider reolving/restructuring the existing foreign debt before launching a USD Sovereign loan – 5 years – of around US$ 300 million to buttress the Central Bank Reserves. There is considerable foreign investment interest in Zimbabwe and neighbouring countries if the President is serious about eliminating corruption and “interference” in business. A $100mm agro fund is also a possibility as Z has good soil.
Prasvin Banker – Chairman African Medical Investments plc/ Managing Director Global Financial Network Inc/Advisor to India Mezzanine Finco