Published: 30 October 2013

Government will address debts accumulated after the Reserve Bank of Zimbabwe accessed foreign currency balances in 2007 to fund national activities in the 2014 national budget presentation by Finance and Economic Development Minister Patrick Chinamasa.

The minister is expected to present the national budget next month.

Addressing business people during an interactive session organised by Alpha Media Holdings in Harare today, the minister said it was important that the Government takes over the debt and deal with concerns from the affected companies and organisation.

"All fiscal and quasi-fiscal debts that were accrued by the RBZ have to be cleared, that includes all the money that was taken from the FCAs. Treasury will assume legal responsibility for all those debts so that we can restore confidence in the financial services sector.

"We cannot continue to have those people say bad things about us," he said.

He also said that Government would continue engaging its creditors with a view to finding ways to pay off debts and be able to access more funds.

Minister Chinamasa said the biggest challenge the country was facing was lack of self-confidence which was preventing foreign investors from making a commitment in the country.

He encouraged the private sector to link up with foreign investors and take up big projects that would be put up for private public partnerships.

"Every good project, be it in energy, roads, railways, will be put to PPPs as long as there is a taker and we agree on the terms of the partnerships," he said.
- herald

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