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No bailout for Zimbabwe: Mthuli Ncube

10 May 2020 at 18:42hrs | Views
It sounds irrational and unpatriotic to have such wishes: never give Corona stimulus to Zimbabwean government for whatever reason. Mthuli Ncube admitted for the first time that Zimbabwe is heading for domestic collapse that can affect the region of southern Africa. Why write such a letter right in the middle of a pandemic, this country has been at the verge of a collapse for decades. His letter sounded like an ultimatum, a blackmail: "if you do not give us the fiscal package, then you will face the music." Somehow the government of Zimbabwe want to make the international money lenders believe that the citizens of Zimbabwe are the responsibility of IMF, World Bank, and the United Kingdom.

We cannot be given more debt when we have domestic and foreign debt running to about 20 billion US dollars: exactly 17 billion US dollars. What happened to billions of dollars given to us as aid previously? It is not possible to establish what developmental infrastructure upgrade was done as evidence of responsible use of billions of debt accumulation. Was money given through credit facilities used as government recurrent expenditures? International lenders know how irresponsible some of our African governments' expenditures are, coupled with unfettered corrupt abuse of offices from the presidents right down to the civil servants. Corruption has now become part of the culture of some African countries excluding Ruanda of course.

Coming to Zimbabwe and the collapsing economy: Mthuli Ncube is abusing our poverty and our uttermost destitution to justify his begging to feed Mnangagwa's trough. It will facilitate unreasonable spending sprees for his boss and those in the government and party. Mnangagwa travels in private jets rented from Swiss companies. In retrospect, Chancellor Angela Merkel can never do it; she would have left office long back is she travelled on government trip using private jets. Chancellor Merkel uses Luftwaffe like all other government officials for her official journeys.

The last rented private jet for Mnangagwa is supposed to have left Zimbabwe for Switzerland weeks ago because of the corona pandemic; it has considerably grounded Mnangagwa from foreign trips that drain the treasury revenues badly needed for school and hospital, roads, the list is long. This private jet rentals cost thousands of US dollars per hour, calculating a single foreign journey to about 10 million US dollars on the private jets' rentals alone.

How many trips has Mnangagwa made ever since he took power from his mentor in 2017? These travelling costs may reach about a billion US dollars, costs incurred by globe-trotting alone. There is not even one cent brought home from these trips. No intelligent investor can put his/her money in an unstable economy like Zimbabwe.

At best, our political leaders should be termed criminals and thugs to say the least. They have lost connection with the masses evidenced by the way they handled coronavirus pandemic. Reports of massive corruption of officers assigned to deal with corona pandemic is a classic example of their insensitivity towards the general masses they purport to serve. Is it inconceivable to imagine the thought processes of an officer embezzling funds meant for relief for vulnerable citizens affected by lockdown pandemic? How low can one stoop: but in Zimbabwe everything is possible.

IMF and World Bank should not give Zimbabwe any kind of assistance to Zanu government because it will not reach out to the people who deserve corona relief package most. For ordinary people it makes no difference if the government got the stimulus package or not. Zanu PF's Mnangagwa government is very irresponsible and inward-looking when it comes to government spending. It is not as if Zimbabwe does not have resources and money, it is mismanagement of fiscal cash flows that we have not mastered fully as emerging countries. We need to remember not long ago how Zimbabwe's government funding was allocated to command agriculture, a sum of 3 billion US dollars was looted without shame by the people intricately connected to Mnangagwa and Chiwenga. These connections make billions of profits taking advantage of the chaos of a collapsing government: a government that has no clue whatsoever about the running of the state.

It is interesting how this Zanu PF government has insulted western countries for racism but will go back to beg assistance from them again. If there is a country that has been insulted for racism and neo-colonialism by Zimbabwean politicians is the UK. We have about under a million citizens in the UK that left Zimbabwe fleeing the collapsing economy: they would rather they gave their services to foreign governments that will remunerate them according to the services they offer. However, the UK government is looking after Zimbabweans by giving them jobs – a win-win situation.

It is interesting too, despite hauling insults of Zanu government to western countries, those western countries will continue to open their purses, send food relief to vulnerable communities through non-governmental organisations, African citizens suffering from chronic food insecurities, been neglected by their own African  governments. The western governments know that if they do not given aid to African vulnerable communities especially in rural areas, the rural populations who experience food insecurities will die of hunger. Our Zanu PF governments will not care much about loss of life. They will not lose sleep because people are dying from hunger.

Without shame, African governments accept relief from western governments and organisations despite insults they shower at every turn. Our government of Zimbabwe is not even ashamed of running down state institutions to the level we witness today: hospitals, schools, railways, airway system, treasury and road infrastructure are in a state unimaginable rot. We never thought we could grind Ian Douglas Smith's economy to the point of declaring ourselves to the international monetary institutions bankrupt and collapsing, a collapse that can threaten the region of southern Africa, Mthuli said. Smith left a pearl of Africa, a breadbasket of Africa when he left office as Prime Minister in 1980. Mthuli Ncube is right the collapse of Zimbabwe economy destabilizes the region, the argument not to give the stimulus to Zimbabwe remains the same: the money will not reach out to the poor and the destitute. Better it is not given to us, so that there is no reviving unnecessary expensive jet travelling wherever.  

Where is accountability: a whole cabinet minister openly pockets, loots 93 million US dollars of Zimbabwe pension funds and symphonies the looted cash to Dubai to buy mansions for her private use: That is Prisca Mupfumira? How many billion of diamonds cash was looted by Mugabe and his bane wife to buy mansions in Singapore and Hong Kong? How many billions of dollars did Chiwenga send to China to his private bank account, we citizens shall never see that looted money back, come hail or sunshine. African elite do not realize that expropriating money to foreign banks has long term and serious repercussions to the domestic cash-flows.

It is rumoured that Mnangagwa has a villa too in Dubai just in case there is a coup in Zimbabwe, he has somewhere to run away to. Mnangagwa must maintain 42 children he sired; this fact, was told us by Jonathan Moyo, his compatriot. How many top range cars do Mnangagwa's sons have: these are cars they boast with in dilapidated roads of Harare and Masvingo? These are sons showing off to the hungry citizens that Daddy is in power - Baba vari panyanga. The IMF and World Bank are supposed to further support this lifestyle of spoiled brats. Please, please we beg you, IMF, and WB, no money for Zimbabwe. Such corona stimulus only perpetuates lavish lifestyles of the elite. Mthuli Ncube has the audacity to beg money using our destitution, poverty, and hunger.

The International Monetary donors are supposed to open their purses wide and give funding to a government that loots daylight without shame. We should ask what moral obligation did Mthuli Ncube have to pen such an insulting request to donor banks using our poverty and destitution as the begging card? Mthuli Ncube was advised long back to resign because he is making mistakes at every turn. He will tarnish his academics if he thinks he can turn Zimbabwe's economy around not without ending up being part of the looting machine. History books will judge him harshly and hold him accountable for all misdemeanours of Zanu government of thugs, guilty by association.

Finance Minister Ncube is not that he has failed as an economist but the task that he is assigned to do is impossible. How does he allow himself to be fronted by Mnangagwa to beg corona packages wholly meant for further looting and they surely imagine these financial institutions do not think? For four decades Zimbabwe has enjoyed free lunch. The UK governments have been giving millions of pounds to the Zanu PF government to cleanse themselves from colonial guilt until Tony Blair put his foot down. When he did, he was labelled a racist. Ms Clare Short shot the continuous outpouring of billions of pounds sterling to an unthankful Mugabe and Zanu PF.

Until about the turning of the new Millennium, Zimbabwe had healthy cash flow treasuries but because Mugabe and his overrated estimation of himself, he overplayed the gesture of the British government. His overrated estimation made him think he was president of a world power country like America, UK, and Japan. He sent his army to the Democratic Republic of Congo to fight the Tutsis, a war that has not significance with the national security of Zimbabwe.

As if it was not enough stupidity and craziness; he paid millions of US dollars to war veterans from state coffers, money unbudgeted by state treasury whose revenues were beefed by UK and International Money lenders. How stupid could a learned President called Mugabe still be. Mugabe was supposed to hold a degree in economics, his academic knowledge was found wanting at a time his government needed it most.

It will be good if the International bodies shun us from those corona packages because that money will not reach out to the people who need it most. Instead Mnangagwa's private jet will fly back because he has money once more for his spending sprees. Mnangagwa will start useless and stupid journeys that do not bring food in the tables of million starving citizens of Zimbabwe. Mnangagwa is emulating his mentor Mugabe who in the last decade of his rule, spent much of his time in the air than in his office. He must enjoy flying just like him, a Mugabe mark two. Our future generations will be forced to pay all the debts later what these criminals are looting today.

We have the danger of leaving unrepayable debt to the coming generations, Africa's resources are depleting every year. Billions worth of resources leave the continent because our presidents are selling our resources cheaply and some of the contracts do not understand them fully. African countries have been cheated by China; they think China is a better devil: Far from it. We shall comprehend 50 years later what it means to get aid from China. We can lose the continent easily to China if Africa does not wake up and smell the coffee. We will be dead then when our children will be confronted with Chinese debts unimaginable by common sense. China will want debts paid in kind. It is all coming when African countries will have to give up their lands as debt payment to China.

Just yesterday the president of Ruanda: Paul Kagame sadly for the first time, commented on financial aid Africa is getting from China. He warned other African countries about aid from China. He said, Chinese clandestinely will give African faulty contracts, will never advise the fault lines in the big contracts. Rude awakening on African countries is coming, they treat us like children because we behave like them towards China and the western world.

This is true for Zimbabwe's Chiwenga who was given a second life by China. He was raised from the dead by Chinese health services that do not exist in Zimbabwe. We hope that Chiwenga paid his health bill with looted cash from Marange diamonds mines. It is sad enough to have Zimbabwe ruled by semi-literates like Constantine Chiwenga as if Zimbabwe does not have competent people to run it. I suppose this is a story for another day.

Source - Nomazulu Thata
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