Opinion / Columnist
Trust in Mthuli
31 Dec 2018 at 10:43hrs | Views
As a young economics student, I never thought in my right mind that I would every write a piece defending my government. Zimbabwe does not exactly have a proud record in the field of economics. From the days of independence until this very day, our system has been mismanaged, looted and at times completely gutted.
This is why as we enter a new year, I have chosen to write this piece supporting our young technocratic Finance Minister, Mthuli Ncube. I go to the same pubs as you young readers, I read the same newspapers, and peruse the same social media channels. I see the criticisms. And they are unfair.
They are unfair because in economics you need both patience and discipline. You also need to remove the politics to succeed. Politics by its very nature is tactical, short term and partisan. Economics by its very nature requires long term strategic thinking, policies which are for the good of all; the many, not the partisan few. Which is why bringing in a technocrat, an economist with an academic background was such a stroke of genius on behalf of ED. He took the Zanu out of the economy, and brought in the Cambridge. And without offending the party loyalists too much, the latter institution has a slightly better record of producing economists than the former.
He immediately got to work on making economic decisions, not political ones. It would have been much simpler to make populist decisions which would gain fame and short-term glory. But that would have been a politician's move. He thinks as an economist. First and foremost he had to balance the books. Short term pain for long term gain. The 2% tax nearly led to riots on the streets, but within the space of a few months, the budget is balanced. Tax money is coming in from one of the most informal economies in the world. Other finance ministers in the region facing similar conundrums are already taking notice.
Mthuli knows that while this hurts, it is wholly necessary. It is necessary to provide the confidence that foreign investors need to bring their foreign cash into the economy. It is necessary to stabilize runaway inflation and the worrisome devaluation of our local currency(ies). And it is necessary for the IMF the World Bank, and for the regional financial bodies who want to believe Zimbabwe is open for business, but have to see that actions are matching words.
So as we move into 2019, we should all take a step back out of our overly political mindsets. We see things all too often through our MDC red tinted glasses, or our Zanu green versions. This leads to short term thinking. It closes our eyes and our minds to good things that are happening. And good things are happening.
We must be patient and look at the bigger picture. We should remember where we have come from, and focus now on where we are going. Progress is being made with responsible figures at the helm. And while austerity measures are far from ideal, and at times painful, they are being implemented by an economist who understands the implications far better than you and me. Zimbabwe will once again find its feet, our economy will one day be the envy of Africa. But first, we must take the pain, stabilise, balance the books, and for once let economics rule the day; not politics.
Anthony Mkondo <mkondo.anthony@gmail.com>
This is why as we enter a new year, I have chosen to write this piece supporting our young technocratic Finance Minister, Mthuli Ncube. I go to the same pubs as you young readers, I read the same newspapers, and peruse the same social media channels. I see the criticisms. And they are unfair.
They are unfair because in economics you need both patience and discipline. You also need to remove the politics to succeed. Politics by its very nature is tactical, short term and partisan. Economics by its very nature requires long term strategic thinking, policies which are for the good of all; the many, not the partisan few. Which is why bringing in a technocrat, an economist with an academic background was such a stroke of genius on behalf of ED. He took the Zanu out of the economy, and brought in the Cambridge. And without offending the party loyalists too much, the latter institution has a slightly better record of producing economists than the former.
He immediately got to work on making economic decisions, not political ones. It would have been much simpler to make populist decisions which would gain fame and short-term glory. But that would have been a politician's move. He thinks as an economist. First and foremost he had to balance the books. Short term pain for long term gain. The 2% tax nearly led to riots on the streets, but within the space of a few months, the budget is balanced. Tax money is coming in from one of the most informal economies in the world. Other finance ministers in the region facing similar conundrums are already taking notice.
So as we move into 2019, we should all take a step back out of our overly political mindsets. We see things all too often through our MDC red tinted glasses, or our Zanu green versions. This leads to short term thinking. It closes our eyes and our minds to good things that are happening. And good things are happening.
We must be patient and look at the bigger picture. We should remember where we have come from, and focus now on where we are going. Progress is being made with responsible figures at the helm. And while austerity measures are far from ideal, and at times painful, they are being implemented by an economist who understands the implications far better than you and me. Zimbabwe will once again find its feet, our economy will one day be the envy of Africa. But first, we must take the pain, stabilise, balance the books, and for once let economics rule the day; not politics.
Anthony Mkondo <mkondo.anthony@gmail.com>
Source - Anthony Mkondo
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