Monday, 4 March 2013

How Zimbabwe can settle its debt with IMF?



Zimbabwe owes IMF (International Monitory Fund) a lump of $10, 7 billion. Newsday (04/03/2013) reported that IMF representatives are in Harare for this debt. As Zimbabwean citizen, I deem it necessary to point out some facts about what could be done if the government of Zimbabwe is serious about settling this debt. I came out with few points so that you can add others you deem necessary also.
1.       Zimbabwe is rich in natural resources such as diamonds and gold. So money can come from these natural resources.
2.       Ministries such as the Ministry of Home Affairs can submit due revenue to the Treasury.
3.       Zimbabwean government should reserve the money that has been put aside by the Ministry of Home Affairs for recruiting 10 000 police officers and use it for debt settlement (recently Newsday reported that Zimbabwe Republic Police force is set to recruit 10 000 more officers to maintain law and order ahead of next month’s referendum and subsequent election. The number will mount from 40 000 to 50 000).
4.       Money can also come from UNWTO through tourism.

5.       Foreigners like Chinese who have invested in mining industry should pay their dues in full. (Last year Newsday reported that Chinese are giving little or no revenue to the Treasury)

What should Zimbabwe do?

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