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Showing posts with the label statutory reserves

We Were Right As Gono Is Exposed To Be Contuining Stealing

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The IMF has called on Tendai Biti to budget for the Reserve Bank after the Bretton Woods Institution uncovered scandalous theft of statutory reserve money by the Central Bank to continue funding quasi-fiscal operations this year. Books at the Central bank have also been cooked to allow for the dispersal of money belonging to banks to fund foreign trips by government officials and certain well-known shoppers at taxpayers' expense. Gono did not seek or get approval from Biti for this shady behaviour. He acted like he was the Finance Minister Harare, Zimbabwe, 30 October 2009 We revealed on this blog a little while back that Mugabe had given Gideon Gono widespread ministerial powers and that the MDC-T were aware of this fact. The IMF, after an audit of the Reserve Bank, has effectively confirmed our story, revealing that the Reserve Bank of Zimbabwe continues to steal funds its custody and using these to continue quasi-fiscal operations. The Central has been taking money belonging to...