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Mugabe passes RBZ Debt Assumption Bill

by Staff reporter
05 Aug 2015 at 06:58hrs | Views

President Robert Mugabe has signed into law the Reserve Bank of Zimbabwe (RBZ) Debt Assumption Bill which attracted heated debate in the National Assembly recently when opposition MPs demanded publication of the central bank's debtors.

The Act, signed into law on July 27, will pave the way for the government to take liability of an estimated $1,35 billion debts incurred by the RBZ before December 31 2008.

During debate on the Bill in the National Assembly, MPs argued it was unfair for Zimbabweans to take over such a huge debt without knowing how it was incurred, and without making known the beneficiaries of the RBZ farm mechanization scheme.

Source - newsday
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