Botswana Bailout Package Won't Change Anything - Biti

Former Minister for Finance and Economic Development Tendai Biti says that the bailout package offered by Botswana to the government of Zimbabwe is too little and insignificant.

Biti, who is MDC Alliance vice national chairperson, and Chair of the Parliamentary Portfolio Committee on Finance said that the country lacks the right micro-economic fundamentals. He said:

That’s a drop in the ocean. That is absolutely nothing. The industry itself needs about $2 billion to retool.

In any event, it’s not about the money. Do we have the right micro-economic fundamentals, a decent exchange rate? There is chaos with the situation of the RTGS$ [real time gross settlement dollar].

The statutory instrument shows that it’s a virtual currency and the politics is just not right, so you can pour money, but that won’t change anything.

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Related:

• Govt Is Mortgaging Our Future To Botswana – Eddie Cross

• Zim Already Mortgaged To Sakunda Holdings: George Charamba

• Zim Could Sink Deeper Into Debt After Botswana Bailout Packages

More: Newsday