Zimra looking to trace and bring back all money which was externalised

The Zimbabwe Revenue Authority (Zimra) has said that it is looking at bringing back all the money which was externalised outside the country as this is one of the major causes of the liquidity crunch. Presenting the revenue performance report for the first half of 2017, Zimra chairperson, Willia Bonyongwe said:

The RBZ has aptly laid the blame squarely on the high indiscipline of Zimbabweans caused by greed and selfishness. It is on record that Zimbabweans have externalised billions of dollars, ranging from the relatively small bank deposits in neighbouring countries, to millions stashed in tax havens globally.

We have to bring back what is due to Zimbabwe. Last quarter we raised alarm on the upward trend in inflation, which threatens to derail economic revival and export growth.

Unfortunately, nobody took notice and the annual rate of inflation rose to 0,75% as at May 2017, the highest it has been in more than three-and-a-half years (Zimstat) — a rapid increase from -0,65% in January.

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