MDC-T Shadow Minister of Finance says Zimbabwe should adopt Rand to get out of current cash crisis

 HON. HOLDER: No, I am not speaking Hon. Speaker.  The problem – they are starting, you should tell them to keep quiet, not me Mr. Speaker.

 THE TEMPORARY SPEAKER: Just take your seat – [Laughter.] – Order Hon. Members.  Everyone of us here has a chance to debate and these are the facts that he is giving you.  If you want to expand, you can expand – [HON. HOLDER: Inaudible interjections.] – [HON. ZINDI: Speaker, ngaambobuda Holder uyu azodzoka ave sober.] – Order, I hope you will not interrupt the Speaker again.  Let it be the last time – [HON. MEMBERS: Hear, hear.] – You may continue.

 HON. DR. MASHAKADA: Thank you Mr. Speaker Sir.  In order to address the first issue which I referred to, the confidence crisis, let us repackage our Indigenisation and Economic Empowerment Policy so that we get, not only FDI but domestic investment as well into the country so that we can grow this cake.  We have got the natural resources and everything but what we lack is capital to make sure that there is growth in the country through manufacturing and production.  Without money, there is nothing we can do.  That is the first point I am putting on the table.

The second point is addressing the question of getting Official Development Assistance (ODA) once again.  ODA is in two forms, the first form is multilateral support from International Monetary Fund (IMF), World Bank (WB), African Development Bank (AFDB), European Bank and other institutions, which is what the Minister of Finance and Economic Development is trying to do through the reengagement efforts.

The other angle is to get bilateral assistance from the Paris Club countries.  These are countries that give us direct bilateral support. We need to do that.  However, this intervention responds to the political risk of the country.  It is toxic; if the political situation becomes toxic, it also has an impact on the reengagement processes and so on because a lot of issues will be raised which are not related to the technical issues on the table.  We have to address our political issues so that they are not toxic to affect reengagement.

Hon. Holder having stood up.

THE TEMPORARY SPEAKER: Hon. Holder, why are you standing up?

HON. HOLDER: Thank you Speaker.  Hon. Zindi is busy with her cell phone in here.

THE TEMPORARY SPEAKER: Order, Hon. Zindi, if you are fidgeting with your cell phone, may you please desist from that.  However, Hon. Members, why can we not be serious and listen to the debate. – [HON. ZINDI: I am actually taking notes on this important motion.] – Anyway may you proceed, but please less these points of orders.

HON. DR. MASHAKADA: Thank you Mr. Speaker Sir.  Official Development Assistance, whether it is bilateral from the Paris Club or multilateral from Brettonwoods institutions, it responds to the toxic political environment of the country, that is, it will hamstrung whatever efforts re-engagement is meant to achieve.  So, we must be cognisant of that fact.

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