News / National
Mnangagwa gets only $250 million from 'looters'
02 Mar 2018 at 14:16hrs | Views
Mnangagwa says $250m has been repatriated to Zim under his externalization amnesty.
A list of 'defaulters' to be published on 19 March.
PRESS STATEMENT ON THE STATUS OF THE AMNESTY IN RESPECT OF EXTERNALISED FOREIGN CURRENCY AND ASSETS
1. The Presidential Powers (Temporary) Measures (Amendment of Exchange Control Act) Regulations, SI 145 of 2017 gannet! on 1" December 2017 gave an Amnesty itt respect of the repatriation of foreign currency and assets that were extemalised by commission or omission or under the liberalised Exchange Control Framework. The Amnesty expired on the 2g. February, 2018.
2. Government is pleased to advise the public that out of 1166 (valued at $1.3 billion) cases of externalisation known by Government, a total of 105 cases valued at US$250 million were processed by the Reserve Bank of Zimbabwe (RBZ) in respect of extemalised foreign currency. Thirty (30) cases valued at $50 million of immovable properties in various countries were reported to RBZ whilst 210 cases valued at $287 million pertained to extemalised fluids that were used to procure imports. The cases processed give a success rate of 45% by value.
3. The bulk of the 771 cases (or 55% by value) that did not take heed of the Amnesty pertain to non-remittance of export proceeds (328 cases valued at US$215.8 million), externalisation by foreigners (213 cases valued at US$375 million), non-acquittal of imports (153 cases valued at US$75.1 million) and Panama Papers and others valued at US$150 million.
4. As a result of this positive response, the Reserve Bank has requested for additional time to validate and finalise the Amnesty process before Government proceeds to name and shame those who did not take heed of the Amnesty and to proceed to take legal action against such cases. 0 5. In order to facilitate the above, the Bank has sought my Authority to extend the Amnesty period by a two week period. Accordingly, I have granted the authority for the extension of the Amnesty by a period of two weeks to 16 March 2018 after which time the outstanding cases will be publicised on 19 March 2018.
6. For the avoidance of doubt, the Amnesty also pertains to the cases that are before the courts where judgement is yet to be passed.
E.D. Mnangangwa President of the Republic of Zimbabwe
A list of 'defaulters' to be published on 19 March.
PRESS STATEMENT ON THE STATUS OF THE AMNESTY IN RESPECT OF EXTERNALISED FOREIGN CURRENCY AND ASSETS
1. The Presidential Powers (Temporary) Measures (Amendment of Exchange Control Act) Regulations, SI 145 of 2017 gannet! on 1" December 2017 gave an Amnesty itt respect of the repatriation of foreign currency and assets that were extemalised by commission or omission or under the liberalised Exchange Control Framework. The Amnesty expired on the 2g. February, 2018.
2. Government is pleased to advise the public that out of 1166 (valued at $1.3 billion) cases of externalisation known by Government, a total of 105 cases valued at US$250 million were processed by the Reserve Bank of Zimbabwe (RBZ) in respect of extemalised foreign currency. Thirty (30) cases valued at $50 million of immovable properties in various countries were reported to RBZ whilst 210 cases valued at $287 million pertained to extemalised fluids that were used to procure imports. The cases processed give a success rate of 45% by value.
4. As a result of this positive response, the Reserve Bank has requested for additional time to validate and finalise the Amnesty process before Government proceeds to name and shame those who did not take heed of the Amnesty and to proceed to take legal action against such cases. 0 5. In order to facilitate the above, the Bank has sought my Authority to extend the Amnesty period by a two week period. Accordingly, I have granted the authority for the extension of the Amnesty by a period of two weeks to 16 March 2018 after which time the outstanding cases will be publicised on 19 March 2018.
6. For the avoidance of doubt, the Amnesty also pertains to the cases that are before the courts where judgement is yet to be passed.
E.D. Mnangangwa President of the Republic of Zimbabwe
Source - online
