FINANCE minister Mthuli Ncube’s charm offensive to
international financiers for help to revive Zimbabwe’s troubled economy has hit
a brickwall amid loud calls of political and economic reforms.
Paris Club chairperson Odile Renaud Basso, responding to an
SOS sent by Ncube, told the government to stop killing its own people and pay
its debts if it wanted help.
“Paris Club members insist, however, on the fact that the
government of Zimbabwe’s desire to normalise its relations with the
international community can only advance following the implementation of
substantive and sustainable political and economic reforms, in particular
regarding the respect for human rights, especially freedoms of assembly and
expression,” Basso wrote.
President Emmerson Mnangagwa’s government has been accused
of being behind abductions and torture of political opponents, while ruthlessly
crushing attempts to demonstrate against its leadership particularly by the MDC
Alliance.
Facing an inflation of over 800%, collapse of service
delivery, biting fuel shortages and imminent implosion as nurses, doctors and
civil servants earning peanuts have reached breaking point, Ncube has made
numerous visits to the Paris Club, charming them with his British accent, but
actions back home have let him down.
Lack of fiscal discipline by government, unrestrained money
printing and use of batons, tear smoke and bullets to solve internal problems
have weighed heavily on pleas for help.
“To this end, a successful implementation of International
Monetary Fund (IMF) Staff-Monitored Programme (SMP) when the country has
demonstrated readiness to begin such a programme, would be an important first
step, as would be progress on political reforms. Poor performance under the SMP
of May 2019 is a missed opportunity in this regard. We encourage you to press
forward with a credible reform programme to stabilise the economy and
strengthen economic governance,” Basso wrote.
The world financial superpowers said Mnangagwa would easily
access debt relief and other schemes if he was gracious enough to stop his
government’s huge appetite on spending money it does not have and beating up
its own citizens.
“The Paris Club recognises that Zimbabwe could benefit from
a debt treatment from Paris Club creditors, should this be requested by
Zimbabwean authorities and should it be favourably assessed by Paris Club
members… The normalisation of relations including any potential debt treatment
can only begin once Zimbabwe has cleared all arrears to International Financial
Institutions in particular to the World Bank and the African Development Bank.
In addition the Paris Club will be closely monitoring IFI support to Zimbabwe
for COVID-19 assistance programmes,” the response read.
Finance ministry spokesperson Clive Mpambela said he had
not seen the Paris Club letter and requested a copy which despite being
supplied to him on Saturday he had not provided further response. Newsday
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