BISHOP LAZARUS: Go ahead, give Gono a call

BISHOP LAZARUS: Go ahead, give Gono a call

OVER the past few days, Professor Jonathan Moyo and Cde Christopher Mutsvangwa have been spewing vitriol against each other. But this sermon is not about them.
However, as a Bishop I thought a few verses from the Holy Book can help cool down tempers because kids are reading it all and honestly, zvakutonyadzisa.
Proverbs 17:27-28 says: ai???Whoever restrains his words has knowledge, and he who has a cool spirit is a man of understanding. Even a fool who keeps silent is considered wise; when he closes his lips, he is deemed intelligent.ai???
Titus 3:2 chips in: ai???To speak evil of no one, to avoid quarrelling, to be gentle, and to show perfect courtesy toward all people.ai???
I conclude with James 3:10 which makes an appeal: ai???From the same mouth come blessing and cursing. My brothers, these things ought not to be so.ai???
Where is the knowledge? Where is the understanding? Where is the intelligence? How about showing courtesy towards all people?
Prof Moyo and Ambassador Mutsvangwa, these things ought not to be so!
Back to todayai??i??s sermon.
Finance Minister Patrick Chinamasa is really, really in a tight fix.
You see, the Finance Ministry has a sobering effect. Ask Tendai Biti and he will confess that that ministry can really whip you into shape.
As Finance Minister, you get to know what exactly is in the countryai??i??s purse and in the meantime, financial requests for this and that will be coming fast and furious from the different ministries and Government departments.
While the requests keep piling, the countryai??i??s debts will be threatening to choke the purse with the IMF and World Bank coming up with all manner of prescriptions.
Faced with such, the temptation for the Finance Minister is to settle for the easy option out of the dilemma, but then the politicians and the critics will also be watching with keen interest.
In recent weeks, Minister Chinamasa has been trying to see how he can juggle his maths and Bishop Lazarus got worried on hearing reports that the minister seems to think that the only way out of the logjam is to pay what the country owes to the IMF.
Look, I am not saying Zimbabwe should not pay back what it owes, but itai??i??s wrong to think that our solution lies in giving the IMF money.
Of course, the IMF will tell you that itai??i??s the only option, but all they want is to put Zimbabwe in a see-saw trap.
I think it was in 2005 when the then Governor of the Reserve Bank of Zimbabwe, Dr Gideon Gono, made a payment of US$120 million to the IMF.
We thought, ai???Problems solved.ai???
The then Finance Minister Dr Herbert Murerwa appeared on television saying the payment demonstrated Zimbabweai??i??s commitment to turning around its economic fortunes.
ai???… no one can write off Zimbabwe as yet,ai??? boasted Minister Murerwa.
But then ask Dr Gono today and he will tell you that this economy wonai??i??t go anywhere as long as we think IMF is our solution.
He will tell you that Greece, Nigeria, Zambia and Malawi, among others, tried the IMF route with no success; while China, India, Brazil, Malaysia and South Korea told the IMF to go to hell.
And indeed the IMF went to hell.
Now, Zimbabwe, with all its resources, thinks the IMF is the route to salvation?
We are thinking of paying US$1,8 billion to the IMF and clearing our debts. Yet, the US has about US$17 trillion in debt and they are not in any hurry to make any payments.
Come on dear minister, donai??i??t they say ai???once bitten, twice shy?ai???
Asi Cde Chinamasa havana kumbotamba that game rekuti garwe sadza seberera? The IMF is dangling the carrot. Letai??i??s not fall for the usual trick. A call to Dr Gono maybe useful.
Just a few days ago, officials from another Bretton-Woods institution, the World Bank, were in the country and their report is testimony that maybe the time has come for Zimbabwe to adopt the post-development theory.
The development discourse espoused by the Bretton-Woods institutions has failed us.
Itai??i??s time for a radial approach to development because the impression one gets from the World Bank and the IMF is that small countries have to dance to the tune while the big boys can do as they please.
Itai??i??s as if the big boys were born to develop while the small boys were born to suffer.
Enough is enough!
Zimbabwe needs to move away from the Bretton Woods institutions. We need to come up with completely new ways of looking at development.
Itai??i??s high time we define development in our own terms and please letai??i??s not be hamstrung by this talk that we are a global village.
Canai??i??t we think global and act local?
Where are the development and economic experts of this country? The politicians have done their part thatai??i??s why they are now turning against each other.
Kushaya zvekuita and as you know mudanga guru hadzizorega kutungana.
Anyway, so the World Bank officials were here and things didnai??i??t go as Minister Chinamasa really thought. Its unfortunate this story was overshadowed by petty personality clashes.
Minister Chinamasa says Zimbabwe will achieve the 2,7 percent GDP growth target for 2016 as Government is developing a comprehensive implementation matrix for major economic policies.
However, the World Bank forecasts 1,5 percent GDP growth.
Some of the WBai??i??s reasons for the forecast include the fact that Zimbabwe is smarting from a severe drought, the slowing down of the global economy, commodity prices remaining depressed, terms of trade with the countryai??i??s main trading partners deteriorating and the impact of the El Nino on agriculture, water and power sectors.
ai???In Zimbabwe, without substantial improvements in the allocation and efficiency of public spending, the recovery could well be regressive ai??i?? increasing inequality rather than further dampening it.ai???
Dear reader, do you know the import of the statement ai???without substantial improvements in the allocation and efficiency of public spendingai????
In very simple language, Government is being told to cut its spending and this may mean some people ai??i?? many people ai??i?? losing their jobs.
The good thing is that Minister Chinamasa is ai???very happy with the direction that the country is taking and that the major policies that are needed to move the economy forward are now in placeai???.
ai???We are determined and in fact I have been meeting with colleagues on what we should do to make sure that we achieve our target of 2,7 percent by end of this year. Given what we are doing if we reach fruition I believe that we can achieve the target that we set out which is 2,7 percent.
ai???I believe that mining, agriculture and manufacturing should play their roles. So when I look at your update report I think the more correct position is the range 2-3 percent growth. I do not think we can grow by only 1,5 percent.ai???
Good going Cde Minister, but disputing the figures is just one small step. Zimbabweans are watching.
And the good minister even refused to be stampeded into agreeing with the WB implementation time-frame.
ai???We agree on about 99 percent on what should be done but we may disagree on the implementation time-frame. With respect to implementation time-frames the responsibility is ours because we know our circumstances, what is implementable and when.
ai???We also know the challenges we may face. In some areas it may seem like nothing is happening so I would not want to be rushed when I am walking through a minefield. I want to be sure that I measure my step and tiptoe so that I reach my goal.ai???
Thatai??i??s the way to go.
The minister has been accused of being a ai???yes manai??? of the IMF and WB, but come on guys, letai??i??s give it to him, under very difficult circumstances, he is sort of standing his ground.
Whatai??i??s left is for him to turn full circle and face the other direction.
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  • Wakisai

    Don’t be naive Bishop! Which direction do you want to face? Can miniscule Zimbabwe with an entire population the size of one city in China, India, Brazil, Malaysia or South Korea, possibly be compared to or have the same economic clout afforded by much larger technologically sophisticated populations, with well established long cultural civilisations?
    Even China won’t unblock more billion dollar loans for Zimbabwe’s Mega-deals unless government starts paying back arrears on its outstanding 1,5 billion dollar Chinese loans, and as major shareholders in the new World Bank competitor the Asian Infrastructure Investment Bank (AIIB), will follow financial imperatives and veto any demands from insolvent Zimbabwe.

  • CDE Gaba

    I think the Minister is acting in good faith, but he must be wary of the machinations of Zmbabwe’s detractors, which are primarily Britain and the USA. The US practically wields total control over the IMF, and US Senate Foreign Relations Committee Bob Corker has already recommended that the Bretton Woods Institutions withholds all new lending to Zimbabwe until there is regime change. So under the circumstances, it would be foolhardy to part with our scare liquidity to pay these institutions. They may simply want to drain our liquidity and watch us squirm. Ultimately, it is the ordinary Zimbabweans that suffer, not the leaders.

    Sanctions have no record of succeeding in causing regime change anywhere; not in Cuba, Iran, North Korea, Russia, Burma, Venezuela, Zimbabwe or anywhere.

    It is better to put such debt repayment funds in a Trust Account held in Harare to be released to the Bretton Woods institutions once sanctions have been removed, or once there are written undertakings that Zimabbwe will benefit from its good faith efforts to settle its debts.

  • Tim

    We already owe the Chinese even before we start the implementation of these deals.