News / Local
Tendai Biti refused $300 000 loan from IMF
20 Feb 2012 at 07:46hrs | Views
FINANCE minister Tendai Biti has refused to get a whopping US$300 000 dollar loan from the International Monitory Fund arguing that Zimbabwe does not have capacity to pay it back.
This was offered to revive the Zimbabwean economy two years ago and to date the country has not gotten a cent because of Biti.
The scam was revealed Professor Welshman Ncube whilst addressing a Gwanda Agenda organised public meeting.
Prof Ncube, who is also the president of the Movement Democratic Change said: "If I were Biti or the minister of finance, I would have withdrawn the US$300 million currency lying idle in New York as SDR," he said adding.
"Biti has refused to take the money arguing that we cannot pay it back. I disagreed with him and advised that we can put the money in the private sector and that money would be collectable through taxes and loan repayments," said Prof Ncube.
Prof Ncube added that if the money was taken by Zimbabwe, it could create more than 25 000 jobs.
This was offered to revive the Zimbabwean economy two years ago and to date the country has not gotten a cent because of Biti.
The scam was revealed Professor Welshman Ncube whilst addressing a Gwanda Agenda organised public meeting.
"Biti has refused to take the money arguing that we cannot pay it back. I disagreed with him and advised that we can put the money in the private sector and that money would be collectable through taxes and loan repayments," said Prof Ncube.
Prof Ncube added that if the money was taken by Zimbabwe, it could create more than 25 000 jobs.
Source - Byo24News
