Zimbabwe is misunderstood- Biti

Finance Minister Tendai Biti has described his job as the worst in the world but at the same time he said Zimbabwe is misunderstood. He said a lot of investors did not know what they were dealing with because there is a lot of negativity that is being churned out on the internet and in newspapers.

In an interview with CNN , Biti said there was no denying that Zimbabwe needed to get its politics right but it was undisputable that despite the political shenanigans Zimbabwe was still a place where one could invest in and actually get good returns.

On Foreign investment, he said there was a lot of mistrust in the Zimbabwe economy, “but the mistrust comes out of ignorance.”

Biti said there was no budget for elections this year but for the constitutional referendum. As for 2011, he said there had to be a clear demarcation between the vagaries of politics and the obligation to make people eat, have jobs, clean water, good health delivery and go to school.

Here is our own transcript of the interview and links to the video clips.

CNN:  About eighteen months ago, we had an interview and I asked you if you had the worst job in the world, and you said you did. Have things improved?

Biti: Well I still think the job is horrible. And easily the worst job in the world.

CNN: Being the Zimbabwean Finance Minister.

Biti: Absolutely, but in terms of the impact that the inclusive government has made on our people I think its self evident and incontrovertible that we have made an impact.

CNN: This year, I think, 2011 is gonna be critical on all levels, political and on the economic front. But as in Zimbabwe as anywhere else those two issues are inextricably linked. How do you see this year panning out?

Biti: I think we need to put a clear demarcation between the vagaries of politics and the obligation of making people eat, making people have jobs, making people have clean water, making people have good health delivery, making people go to school. We need to put a wall between that.

http://video.aol.ca/video-detail/zimbabwes-economic-challenge/1814919435/?icid=VIDLRVNWS08

CNN: When we talk about 2011 have you budgeted for an election this year?

Biti:  Well I think the most important thing is clearly the constitutional referendum and we have budgeted for that .  It is also important that we create an environment that makes Zimbabwe ready for a free, fair and uncontested election.

CNN: For many people looking in, foreign investors, very nervous about this indigenisation bill which many people see as just expropriation really.

Biti: There is a lot of mistrust in the Zimbabwe economy. But mistrust comes out of ignorance. You have to understand what you are dealing with. And a lot of people don’t understand what they are dealing with because there is a lot of negativity that is churned out on the internet and in newspapers.

CNN: But I mean I think what it boils down to is that Robert Mugabe is not helping. At his last speech that I saw where he has threatened revenge on foreign companies who came and invested in Zimbabwe. There is an element of risk in terms of investing but that’s,  that’s just not helpful.

Biti: Nobody can deny the fact that Zimbabwe needs to get its politics right which is why an election is inevitable in Zimbabwe. So that part is undisputable. But what is also undisputable is that despite the political shenanigans Zimbabwe, it is still a place where one can actually invest and actually get good returns

http://edition.cnn.com/video/#/video/international/2011/03/15/mpa.biti.zimbabwe.investment.cnn?iref=allsearch

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