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IMF cannot save Zimbabweans

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IMF cannot save Zimbabweans Empty IMF cannot save Zimbabweans

Post by RamblerNash Wed May 04, 2016 10:03 pm

IMF cannot save Zimbabweans

April 28, 2016

Without fundamental political and economic reforms and the emergence of an inclusive democracy in Zimbabwe, no lasting economic solution can be found no matter how much money the International Monetary Fund (IMF) may throw at the problem.

Vince Musewe
IMF cannot save Zimbabweans Chinamasa-3
Zimbabwe’s Finance Minister Patrick Chinamasa (L) addresses a media conference after meeting International Monetary Fund (IMF) Executive Director for Africa Chileshe Kapwepwe (R) in Harare, September 7, 2015. REUTERS/Philimon Bulawayo

For many years the IMF has been the principal instrument of foreign governmental development capital in Africa and yet to this date, Africans remain poor. In fact $2,5 trillion and 50 years later, there is no evidence that any of their policies are working. In fact some of their economic prescriptions have exacerbated poverty and underdevelopment, especially in Africa.

There is no evidence that the IMF has facilitated the emergence of sustainable economies and eradicated poverty and corruption anywhere on the continent. There is, therefore, no need for us to get excited about their impending re-entry into Zimbabwe because their economic models and their thinking has not changed at all. In fact as far as some of us are concerned, the IMF is inadvertently saving President Robert Mugabe and his Zanu PF leadership.

The IMF, and now it seems the British, are brushing aside the bare facts that we are fighting against a value system which has at its core an uncaring, corrupt and brutal predatory leadership which has entrenched its economic and political interests at the expense of development. Ordinary Zimbabweans will not be better off simply because the government has access to IMF funds, in fact things could get worse.

In my opinion, regardless how much money the IMF may throw at the problem or how much they may convince themselves that Zanu PF will change its behaviours, the fact of the matter remains that Zanu PF is an illegitimate government, which has neither the sincere wish nor the solutions in transforming the lives of many Zimbabweans who have suffered under their irrational arrogance and political hegemony over the last 36 years. Why is that so difficult to understand for an organisation supposedly run by intelligent and educated people?

Sadly, we continue to be masterminded by organisations such as the IMF including foreign governmental capital and yet we have all the capabilities ourselves to lift our country out of the mire. All we need is a new political leadership and those who wish to help Zimbabweans should really be assisting us to do just that.

If we do not do that, we shall remain recipients of their munificence in areas which they choose to assist us, as they utilise their own methodologies and highly remunerated experts who have become permanent appendages of the African narrative. Aid and loans to Africa is indeed a lucrative industry, not for Africa’s poor, but for those who claim to have the solutions and are, therefore, best suited to dispense the solutions. That is a lie.

I remain convinced by the argument that the West got rich through industrialising its economies and accessing large markets, even by force and yet they are not prescribing to us the very solutions which created the social and economic development which we see in their countries today. They are not promoting the economic freedom and the democratic architecture which lifted their countries from poverty. That is the truth.

The responsibility of transforming Zimbabwe remains ours and ours alone, but this can only happen when we create the necessary political environment and adhere to international democratic norms.

The fact of the matter is that Zimbabwe is not a fully democratic state but rather a dictatorship and de facto police state which is suffering under the grip of a predatory cabal which is seeking legitimacy from the IMF and other developmental institutions. This legitimacy is now being offered through the so-called re-engagement process by the international community without the necessary fundamental paradigm shift by Mugabe and his predatory coalition with regard to their responsibility to the well-being of us the citizens of Zimbabwe.

It is my contention, therefore ,that Zimbabwe can never rise to its full potential as long as it does not build its own developmental capital base and be free from the theories and machinations of international governmental development capital and organisations such as the IMF.

If we are to write our own history, it is incumbent upon us to create a new paradigm which promotes economic freedom and offers value to foreign private capital and legitimately attracts free market capital without the need to continually depend on the IMF et al.

In Zimbabwe today, we owe the IMF billions and yet no one is asking what happened to those billions released by the IMF supposedly for our development. As a result, we now have a highly indebted country that shows no evidence of any significant development. In fact we are getting poorer by the day with no end in sight.

The Zanu PF solution to this, which is now allegedly being supported and promoted in several international circles, is to go and borrow more money in order to repay this debt with the hope of borrowing more money. That is clearly a ridiculous proposition which is most likely to see our country continue to be in debt simply because the root causes of our problem are being conveniently brushed aside.

Without fundamental political and economic reforms and the emergence of an inclusive democracy in Zimbabwe, no lasting economic solutions can be found no matter how much we borrow from the IMF.

For me the imperative for us to re-think and re-invent Zimbabwe and eradicate our continued dependence on foreign governmental funding far outweigh the imperative for IMF aid because we are most likely to prolong our vulnerability to foreign governmental capital interests. We can, therefore, never claim to be free.

IMF funding is but a temporary respite only to Zanu PF but will unfortunately mean nothing to millions of Zimbabweans who want a new political leadership which takes its responsibilities seriously.

Another Zimbabwe is possible!


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Post by Ponee Tue May 10, 2016 11:02 am



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