Finance Minister Mthuli Ncube may be about to notch up the first tangible success for six years in his quest to restructure Zimbabwe's US$21 billion debt – persuading the IMF to run a Staff Monitored Programme in the country despite rumbling criticism of grand corruption and brutal repression of dissidents...
At a side event in Abidjan on 26 May Zimbabwe's finance minister Mthuli Ncube launched his latest roadmap to restructure the country's debts reporting that he has written to Britain Germany and Brazil requesting contributions to a $2...
These include the ‘fraudulent issuance of Treasury Bills' to Tagwirei which caused the collapse of the local currency; the privatisation of the People's Own Savings Bank with Virginia Mabhiza; and the ‘illegal and fraudulent sale of shares in Kuvimba Mining House' by Tagwirei in collusion with Finance Minister Mthuli Ncube Finance Permanent Secretary George Guvamatanga and former RBZ Governor and Mutapa Investment Fund CEO John Mangudya (AC Vol 65 No 15 Concerns multiply over Mnangagwa's secretive wealth fund)...
President Emmerson Mnangagwa and Finance Minister Mthuli Ncube have to face harsher global conditions particularly US-China tensions which may undermine demand for Zimbabwe's exports...
Finance Minister Mthuli Ncube argues that the tax will cut consumption of highly processed foods and will boost public health...
Finance Minister Mthuli Ncube's plan for an IMF deal paving the way for debt restructuring is being frustrated...
Yet the unexplained increase in Zimbabwe's public debt to US$21 billion from $18bn most of which was used to ‘recapitalise' the opaque Mutapa Investment Fund tightly controlled by Mnangagwa and Finance Minister Mthuli Ncube will undermine efforts for a restructuring of the country's foreign liabilities...
Finance Minister Mthuli Ncube promises to raise civil servant salaries following discussions with the Tripartite Negotiating Forum...
This was reiterated by Minister of Finance Mthuli Ncube in the mid-term budget...
Shortly after his victory in last year's disputed elections President Emmerson Mnangagwa reconstituted the country's Sovereign Wealth Fund bringing 66 state-owned enterprises (SOEs) under the control of his office and Finance Minister Mthuli Ncube...
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Finance Minister Mthuli Ncube plans new laws to compel companies to settle a substantial proportion of their taxes in ZiG...
IMF SCUPPERS HARARE'S BAIL-OUT HOPES The repeated efforts of the Finance Minister Mthuli Ncube to persuade the IMF to open negotiations on finance and debt restructuring have been diplomatically rebuffed again...