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MDC-T Senator Advises Finance Minister Not To Repay IMF, World Bank Loans

MDC-T Senator Advises Finance Minister Not To Repay IMF, World Bank Loans

A senator belonging to the opposition MDC-T has advised Finance and Economic Minister Mthuli Ncube not to repay International Monetary Fund (IMF) and World Bank loans saying the two Breton Woods institutions are enemies to Zimbabwe.

The senator, Tichinani Mavetera (Masvingo Province), who is also the MDC-T Chief Whip in the Senate, said the financing institutions have been influencing other financiers to refuse to bail out Zimbabwe. Open Parly quotes him as saying:

The other issue is of our foreign debt. I think the Minister is doing a sterling job in trying to make sure that we honour our external debt. It is not a bad idea, if you borrow, you should learn to pay back – it is a good behaviour.

However, I have a problem Madam President, if I borrow from you Madam President and you want me to pay back but you go around and encourage other people not to lend me money that will enable me to generate more money so that I pay you back, it is not good. At the moment what we are facing as a country, the Paris Group of Financial Institutions are the ones we owe more money but for the past two decades, they have not given us money, yet they want us to pay.

Not only that, but they also go around the world saying do not pay Zimbabwe. You will hear that Zimbabwe has got its image tainted, it is not tainted by anyone but it is being tainted by those Paris Club Financial Institutions, but the Minister is going around in trying to get money to pay them, what for?

I think the issues which we are facing as a nation such as shortage of drugs, children are not going to school yet we want to spend our hard earned dollar paying those debts.

Let us put them on hold, probably we will never pay them, nyika haigone kutorwa, we will defend, and we buy guns from our friends for our defence. Definitely, those are the issues which we need to articulate, this budget is actually burdening the Zimbabwean populace.

As a nation, we do not need to pay IMF, we do need to pay World Bank because since I was a little boy and now am old; 20 years they have not given us anything. Yes, if you borrow and you do not pay back, they do not have to go around telling everyone to say: do not give him and then you come demanding your money. Those are our enemies, if I were to declare, I will declare them enemies of the State. We do not need them…

Therefore, Hon. Minister, you are spending energy on the wrong things. That is my comment as a citizen and as someone who has suffered from those policies. We do not need to perpetuate those ones. Yes, we have got an obligation to pay but the timing is wrong when we do not have drugs when we are dying and have got hunger.

Since coming to power in 2018, the Emmerson Mnangagwa-led government has made part of its priority to service the debts.

However, Senator Mavetera is against the idea, instead labelling the creditors as enemies of the country.

In his response to the senator, minister Mthuli Ncube said there have been positives that have come due to the servicing of the debt and that the country will continue with token payments. He said:

Then on the foreign debt, the Hon. Senator was eloquent that perhaps we should not be paying these token payments because we are getting nothing from these parastatals but we are getting something. Only that they do not wish to put those resources through central government but want to use other structures such as UNDP and so forth. 

The monies are coming but it is not at the same level as before, so it is a lot smaller but it is coming.  Our view was that we cannot clear our debts if we do not even begin to show that we are good debtors.  It is important to make these token payments and it is not strenuous on us as a government because we are able to make these small payments. 

He added that the payments work to normalise relations between Zimbabwe and the Paris Club, one of Zimbabwe’s major creditors.

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31 Comments

matare 4 weeks ago

what does that suppose to mean?


kalusha 4 weeks ago

he is a moron


babayaro 4 weeks ago

he is a jackass


Anonymous 4 weeks ago

Zimbabwe is something else, I surrender 🙌😂


Fo di pipo 4 weeks ago

Kupedzaa tax payers money achisvipira mate benzi


Zinja 4 weeks ago

Vajaira spoonfeeding , they dont even know how the world works. Basa nderekupihwa command inputs and government loans which they dont repay so they want everybody to keep quet so they can go take more from those who are unaware.


Mboko 4 weeks ago

Haa ****i mkosho une man'a. Uchatimakisa **** iwe!


Wchemel 4 weeks ago

Kkkkk mbokooo

Fo di pipo 4 weeks ago

Kunyadzisa kwazvo anofana kumbopiwa madays off ambofurwa nemhepo

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Dr hannibal Lecter 4 weeks ago

senator visit me for a meal....


Vote wisely 4 weeks ago

A senator with such a poor mentality is a disaster for Zimbabwe.
Those who vote for MDC_T will cause pain and suffering for the country with such mentality.


4 weeks ago

Thout it was Mwonzora only bt it seems like insanity runs in this party of clueless, confused personnel


Vesto 4 weeks ago

I respectfully suggest that MDC-T comprises of the lunatic fringe, errant inmates of Ingutsheni and Ngomahuru who somehow absconded from those institutions and found themselves in Parliament courtesy of connivance with ZANU.

4 weeks ago

A senator of all people saying such s.t.u.pi.d things it utter madness to the highest. He is an imbecile


Plumtree 4 weeks ago

longu nguMdidwenja kalangqondo ngitsho kumbe abantwana bakhe ubatshelani .lingavhoteli imbuzi lezi ze MDC T


4 weeks ago

Yikho obona khona ukuthi asiyindawo nxa inkokheli kuyizinja ezinje so. Agugile amaxhegu la lemizimba ikhathele, sokusele udokoza nje ngoba lengqondo zingasathathi kuhle

4 weeks ago

Kkk kumeka sure kuti anopinda pachigara anokuvara nezvikwereti kkkk


Zuze 4 weeks ago

I think this megalomaniac Senator-by-default is trying to set a precedence to avoid debt repayment so that he himself can find an excuse for not paying back the US$40,000 loaned to him by Matuzvi Ncube

4 weeks ago

Taking up arms to defend the country from institutions wanting us to pay our debts What is the honourable senator talking about? He is such an i-m-b-e-c-i-l-e Let's get rid of such useless representatives come election time


Hercules 4 weeks ago

This MP examplifies the kind of people tht we have in parliament. He is a shallow thinker just like the majority of our MPs. He wants Zim to borrow even more when they have shown tht they don't have the capacity to pay. He s just worried about getting USD40 000. It's a shame tht we have more people like him in the Senate and Parliament


Nimrod 4 weeks ago

How he became a senator way back in 2018 baffles my mind.
Taking up arms against your creditors? This is the first type of war of kind in history.
vaSenator zvikwereti ngazvibhadharwe because initially you took them for development purpose and the proceeds of thatdevelopment should be used to pay off the loans.
Wotoona kuti$40 000 iya yakapihwa baba ava yatonyura haidzorerwe.
Shame on this man and his political party.


4 weeks ago

Ndivo varume vanotadza kubhadhara school fees vachipa excuse yekuti it is a national duty.

jj 4 weeks ago

that is total madness he is absolutely out of his minds


SRM 4 weeks ago

This is special kind of ****

cde chipopi 4 weeks ago

senator hapana zvamuri kutaura . Nyika dzese dzemu Africa dzirikufairwa ne zvinhu i nhau ye look West policy.


senator 4 weeks ago

senator ava vane mafungiro ebenzi rinotora sadza mumabhini aribika harimuzivi Vaitofunga kuti vataura chose vasazviita zvinoshoresa nyika kana kutowedzera kunyimwa zvikwereti Ava senator havabhadhari zvikwereti kwavanogaravachizviti ndisenator


stop 4 weeks ago

kana musina zvokutaura nyararai munosvoresa VaMwonzvora


kofi 4 weeks ago

Muchinda uyu musoro make hamuna kana chinhu kana grade 7 chaiyo handifungi kut akasvika . Nyika inosiireiko type dzakadai dzichitaura


5 4 weeks ago

Apa baba mazvinyadzisa imi,mhuri yenyu ,party yenyu,mutungamiriri webato renyu pamwe chete nenyika yenyu.l think the patriotic bill or act whatever the case needs to be rigorously ammended to criminalise those bootlickers whose wayward bootlicking tarnishes the image of the country and and exposes the folly of the whole gvt


Tkt 4 weeks ago

haa uyo anopenga uyo
iye wacho anobvuma hr kupa munhu ane chikwereti chake chimwe pamsoro pechimwe chisina kubhadharwa. d!ck ace


TM 3 weeks ago

Wen yu borrw mney ,invest it in a viable business wth clarity in terms of accountability,then u pay back the lender wthin agreed tym,then use the profits in th same business,if is not inaf go bck and brrw again and it wll b givn to yu again. Hatshi ubulema buka Snt TM

Vote Nelson Chamisa’s CCC for a smart gvnmnt👆🏽



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