News

A Zimbabwe African National Union-Patriotic Front legislator Simba Mudarikwa told United States ambassador to Zimbabwe Charles Ray in February 2010 that one of the most important achievements of the inclusive government was the sidelining of central bank governor Gideon Gono.

(31 VIEWS)

Although the central bank no longer has the means to disrupt the economy as it did during Zimbabwe’s hyperinflation, the very fact that Gono is still on the payroll frightens anyone who might consider a financial commitment that lasts more than a week.

(35 VIEWS)

Finance Minister Tendai Biti wrote to the United States government to lift sanctions on three banks, the Infrastructure Development Bank of Zimbabwe, Agribank and ZB Bank and Building Society, to speed up economic reforms.

(77 VIEWS)

Central bank governor Gideon Gono approved in record time the sale of 54 percent of Premier Bank to German investors in a deal worth $6 million unilaterally fast-tracking a waiver on the country’s stringent banking and indigenisation laws.

(99 VIEWS)

The Democratic Republic of Congo’s ambassador to Zimbabwe Mawapanga Mwana Nanga said central bank governor Gideon Gono must have been profiteering from his actions because the things that he was doing did not make sense.

(36 VIEWS)

Gideon Gono was at one time the de facto Prime Minister of Zimbabwe. He had become so powerful that he sent shivers through many original founders of the Zimbabwe African National Union-Patriotic Front. But he is now a pale shadow of his former self.

(40 VIEWS)

Swedish ambassador to Zimbabwe Stan Rylander said the European Union was working with a group of Zimbabweans to craft a programme that would remove the security chiefs as a threat to future reform, but he told United States embassy officials that this must be handled carefully.

(67 VIEWS)

Zimbabwe’s banks were awash with so much cash-nine months after the introduction of the multiple currencies in 2009- that they did not seem to notice that the Reserve Bank of Zimbabwe had robbed them of $39 million. 

(38 VIEWS)

Reserve Bank of Zimbabwe governor Gideon Gono used US$40 million of the banks’ reserves lodged with the central bank without authorisation and it is not clear what the money was used for, Minister of Economic Development at the time Elton Mangoma told United States diplomats.

(43 VIEWS)

Finance Minister Tendai Biti told diplomats in October 2009 that though government revenue had risen to US$90 million a month, 20 times more than his ministry had been getting when he assumed office, it still fell short of government spending.

(66 VIEWS)