We don’t need Dr. Bawumia to fix our economy – Zimbabwe

Zimbabwe has said it does not need the services of Ghana’s Vice President, Dr Mahamudu Bawumia in its effort to rebuild the country’s challenged economy following President Emerson Mnangagwa swearing into office last week.

Ex President Robert Mugabe tasked Dr. Mahamudu Bawumia in 2011 to assist his country on its re-engagement with the international community. Dr. Bawumia, an economist and former Deputy Governor of Ghana’s central bank went to Zimbabwe as the African Development Bank’s Resident Representative to Zimbabwe. He succeeded in making the southern African country’s economy stronger and had substantial growth.

His appointment follows the request by Mugabe’s government, with the backing of Southern African Development Community (SADC), for the African Development Bank, as the premier African multilateral development institution, to take a lead role in assisting Zimbabwe revamp its ailing economy.

Zimbabwe, whose economy shrank significantly after 2000, had major hyperinflation problems from 2003 to 2009 and suspended its own currency. The economy deteriorated from one of Africa’s strongest to the world’s worst.

As a result, the country witnessed widespread poverty and a whopping 94% unemployment rate.

Zimbabwe’s new President Emmerson Mnangagwa has pledged to re-engage the country with the world, following the dramatic departure of Robert Mugabe. In his inauguration speech, Mr Mnangagwa sought to reassure foreign investors to attract badly needed funds to revive Zimbabwe’s failing economy.

Some economists have said Zimbabwe, may take another ten years to marginally reverse the deteriorated economic fortunes that once anchored the Southern African country among the world’s emerging markets.

Speaking to Kasapa FM’s Akwasi Nsiah on a wide range on issues, Lawyer Farai Mafunga, counsel for President Emmerson Mnangagwa said, though Zimbabwe acknowledges the contribution of Dr Bawumia in reshaping their economy in the past, his services are not needed now.

“Zimbabwe has got competent people to turn things around, I think we need to engage the international community and get some investment into the country. I think the people in the country are very capable of doing a great job. Obviously, any help we can get from elsewhere is welcome but I think we’re good to go and so we don’t need Dr Bawumia’s support now.”

Credit: kasapafmonline.com

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