Mthuli Ncube now the biggest threat to Biti’s legacy


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Former Finance Minister Tendai Biti, who has been globe-trotting promoting his book: Democracy Works, has been touted as the best Finance Minister Zimbabwe has ever had largely because he managed to stabilise the economy which was in tatters before the inclusive government took over in February 2009.

But that legacy is about to be blown if Mthuli Ncube, the former banker, professor and now Finance Minister, manages to pull off the currency reform introduced on Monday.

Biti has been kicking and screaming throughout, using his chairmanship of Parliament’s Public Accounts Committee to humiliate Ncube who has taken Biti head-on accusing him of destroying the country’s economy by adopting the United States dollar because he robbed the central bank of its function to conduct monetary policy.

Former Movement for Democratic Change policy advisor, Eddie Cross, credits the introduction of the United States dollar to former Justice Minister and Finance Minister Patrick Chinamasa who was acting Finance Minister and introduced his 2009 budget in United States dollars.

Biti continues to rant that Ncube is taking the country to the cleaners but time will tell who is the better finance minister. There can only be one.

(363 VIEWS)

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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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