Zim has $217 in the bank
After paying its civil servants' salaries last week, the balance in the cash-strapped Zimbabwe government's public account stood at just $217, Finance Minister Tendai Biti has disclosed.
"Last week, when we paid civil servants, there was $217 [left] in government coffers," Biti told journalists in Harare on Tuesday, claiming some of the reporters had healthier bank balances than the state.
After more than a decade - during which the country suffered from hyperinflation of 231000000% and infrastructure that crumbled as quickly as prices went up - the situation is now at least stable.
But public finances remain a mess and local business battles against unreliable electricity supplies, lack of liquidity and high labour costs.
The government has warned that it does not have enough money to fund a constitutional referendum and elections that were expected this year.
Biti said that left the government no choice but to ask donors for cash.
The country's elections agency said it needs $104-million to organise the vote. The government's national budget for this year stands at $3.8-billion and the economy is projected to grow by 5%.
Zimbabwean police are investigating charges that five Zanu-PF officials fleeced two diamond mining companies out of $750000.
President Robert Mugabe ordered the police to investigate the officials last week.
They face expulsion from his party.
Political observers say the allegations against the five will be a litmus test for Mugabe and Zanu-PF, which is widely seen as turning a blind eye to the illegal wealth amassed by its political elite, especially in the Marange diamond fields.



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Posted 107 days agoMike123
Posted 107 days agosistachick
Posted 107 days agoshelatt
PaulBobs
Posted 107 days agoStirrer
Posted 107 days agoWhat the hell......
Mzungu
Posted 107 days agoNice !
Independance plus 40years equals total collapse. Proven over and over again in Africa.
Maybe Bob-b must beat his slaves harder?
Wiseguy
Posted 107 days agoMugabe, you score a -Z on your score card!
Duzula
Wiseguy
Posted 107 days agoI also believe, like any other despotic dicktators in this world, Mugabe and his inner cirle have stashed billions and billions away overseas! It is up to the good people of Zimbabwe to get that money back from him, his family and the other members of his inner circle! It would be an excellent project for the AU to undertake.....in the name of good clean accountable governance on our continent! It would also help bury for once and all the negative impression of Africa as a region!
shelatt
Posted 107 days agoOn the positive side, by that time Bob will be dead and Zim will have started to get back to normality and would be a good place to emigrate to as their growth will attract huge investments.
staren
Posted 107 days ago