Finance Minister Tendai Biti has won the Euromoney Emerging Markets award for Best Finance Minister in Africa 2009. Euromoney is one of the worlds leading financial markets magazines and annually gives awards that recognize outstanding individuals and institutions in finance. Candidates have to demonstrate leadership, innovation and momentum in the markets in which they excel.

A statement from the MDC praised Biti for bringing ‘sanity and transparency into the management of public funds ever since he was appointed Minister of Finance in February.’ It said Biti had stood firm in the face of attempts by individuals linked to ZANU PF ‘to grab funds from the International Monetary Fund.’

Biti and Reserve Bank Governor Gideon Gono are embroiled in a row over how to spend the US$800 million in recently received aid money from the International Monetary Fund and African Export-Import Bank. Gono, whose unilateral appointment by Mugabe is still being challenged by the MDC, accuses Biti of dragging his feet in using the money and says he should move swiftly to fund projects in manufacturing and agriculture.

The Finance Minister, on the other hand, says the money will only be spent once government has approved a budget set for November.