Analysts tear ZimAsset apart

Godfrey Kanyenze said Chinamasa’s growth predictions are, “grossly inaccurate and illogical”

By Nomalanga Moyo
SW Radio Africa
24 January 2014

Zimbabweans should brace themselves for a lasting economic crisis as long as the ZANU PF government is at the helm, speakers at a panel discussion said Thursday.

The discussion, organised by rights lobby group Crisis in Zim Coalition, focused on the 2014 national budget and the government’s ZimAsset economic blueprint.

“The overarching view from the panelists was that the budget and ZimAsset are just propaganda because ZANU PF has neither the funds to implement this economic blueprint, nor the political will to do so,” according to Nixon Nyikadzino, one of the organisers.

“We wanted the Finance Minister and ex-finance ministers Tendai Biti and Simba Makoni to answer the questions whether ZimAsset is implementable on the current budget, but Chinamasa did not turn up,” Nyikadzino said.

Speaker after speaker tore into the government’s economic policies, with Biti saying that ZimAsset is anchored on the controversial indigenisation policy, which he said promotes capital flight rather than investor confidence.

Biti said the government’s $4 billion budget lacks credibility and that while it identifies the problems facing the economy, the solutions it suggests only feed those problems.

“The biggest problem with ZANU PF is that they don’t understand money and the economy. They are functionally illiterate. They think that money grows on trees,” Biti told the meeting.

The former minister urged ZANU PF to humble itself and engage the international community for financial assistance, and also to revise its investor-hostile empowerment policies.

“We need to stem the tide of de-industrialisation, we cannot celebrate informal businesses,” Biti said, adding that the informal sector was not taxable and could not be depended on as a revenue stream for Treasury.

Turning to Chinamasa’s projection that the country’s economy will grow by 6.1%, economist Godfrey Kanyenze said this is “grossly inaccurate and is illogical”.

“Domestic arrears are not included in the budget, they are over $97 million. The budget doesn’t have priorities, it contains projections and assumptions but the cash just isn’t there,” Kanyenze said.

Kanyenze said there was a need for the system to be completely overhauled but said he did not see this happening under the current set up.

“Any reform agenda cannot be done overnight, it takes years. Reforms will affect those who are benefiting from the current state of the economy, and they will not stand by idle,” he said.

Mavambo/Kusile/dawn party leader Simba Makoni slammed the ZANU PF government for blaming targetted sanctions for the self-inflicted economic decline.

“We need to stop blaming other people for our own problems. Corruption continues to weigh heavily in our everyday lives, all the problems Zimbabwe faces are caused by politics and power struggles,” Makoni said.

The former finance minister said the government needs to be receptive to new ideas and advice because “the government does not know it all”.

“Problems can never be solved by their creators. We need the government to be open to advice from wherever it comes from,” Makoni told the meeting.



8 Responsesto “Analysts tear ZimAsset apart”

  1. THE BLACK ARISTOCRAT says:

    “The biggest problem with ZANU PF is that they don’t understand money and the economy. They are functionally illiterate. They think that money grows on trees,”

    And that refined diesel flows out of rocks! Lol!!!

  2. Larry King says:

    What can we expect from a bunch of baboons? Baboons who have no clue on how to run a country except to run it down to the ground. In their 33 Zanu PF has done nothing, the wealth the whites left has all been squandered, all they have on show is the number of millionaire thugs they created from a bunch of baboons.

    • Chimbwido Warvet says:

      If these guys can be baboons who are able to take back their land which you and human ancestors had stolen from these baboons, then they must be very clever and wise baboons. Well, the baboons now have their land and are happy in their country irrespective of the economic difficulties that are not of their own making but that of the Wall Street banker who have screwed up the reserve currency of the world. Well the baboons are not too sure if this human being is aware of the terms reserve currency of the world and what effects it could have when human beings temper with it.

  3. Tiger Shona says:

    Guys, why do we not give our regular commentator, Chimbwidos Warvet a chance to advise on all this. After all, the man says he knows it all. And as for all these institutions and countries that will not give Chinamasa the billions that he wants, I just wonder why he does not threaten them with serious consequences, or confiscation of that money.
    After all, that is what they have been doing that with us Zimbabweans.
    Not to mention what the majority of the nation lost in those “Zimbabwe Dollar” days.
    And Chimbwidos, do not forget to mention sanctions!

    • Chimbwido Warvet says:

      First of all, I am not a who has a bone to chew with the Mugabe government. You have no kind words for this man whose crime to you has been to ensure the land your ancestors and you had stolen from his people. That is the only argument you have that makes you lose your mind when you think of the tracks of land that were taken from you and associates. That can not be my problem but squarely yours.

      Chinamasa did not have to ask for your opinion or that of Chimbwido Warvet on how the taxpayers funds were be allocated and disbursed by ministries of this country. After all, you do not pay tax in this country and your complaints are not justified when you chose to settle abroad. What I know through experience is it is too good to criticize others but often difficult for critics to come out with workable solutions. They just howl like hungry puppies and make all sorts of noises but offer no ideas. It is a shame.

      Ndikatinzwee kwa Amato, wandiona – no mention of economic sanctions at all. It is irrelevant here.

      • Tiger Shona says:

        You wont have a bone to chew with Mugabe, ’cause you must be paid handsomely from diamond money to try and fend off criticism against Zanu PF.
        Some points of interest;
        1) My ancestors were not in Zimbabwe
        2) I bought my land with Zanu PF permission, just to be told later that it does not belong to me.
        3) I pay my taxes in Zimbabwe.
        You have absolutely no clue what you are talking about, and it is really a waste of time getting back to you.
        The only positive thing about you is that unwittingly you turn more people against Zanu PF. An absolute misguided fool.

        • Chimbwido Warvet says:

          No one pays me for anything my former friend though a typical rhodie whose motto in his heydays of the late Ian Smith used to tell us that ”rhodies never die” Well, that was a myth that has not stood the test of time as the majority of them have now left the country in an effort to ferment rebellion, divide our people along tribal lines and in the process hope to influence change in Zimbabwe while stationed abroad. Fortunately, our people have come of age and fully know who their friend and enemy is. Our people can not turn against their own Chimbwido Warvet, no matter what.

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