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I Did Not Say There Are No Sanctions On Zimbabwe - Mangudya

2 years agoWed, 08 Mar 2023 04:48:22 GMT
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I Did Not Say There Are No Sanctions On Zimbabwe - Mangudya

Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya has said Zimbabwe remains under economic sanctions that have hampered the movement of funds and trade in the past two decades.

On Monday Mangudya said there are no sanctions on Zimbabwean imports and exports, including on gold, and this was interpreted by some commentators as an admission by the central bank governor that the country is not under sanctions.

Speaking in an interview with The Herald on Tuesday, Mangudya said sanctions in the form of the Zimbabwe Democracy Recovery Act (ZDERA) remain. He said:

Sanctions on Zimbabwe are through ZDERA and augmented by OFAC through placing entities on the designated list of sanctions.

What this means is that whilst these sanctions are not directly on trade per se they negatively affect the movement of funds within the international banking system.

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The Zimbabwean banking sector has lost a substantial number of corresponding banking relationships over the past 20 years, through de-risking, because of the OFAC sanctions.

OFAC sanctions also affect the smooth flow of funds across borders as financial institutions are obligated to comply with OFAC sanctions.

ZDERA on the other hand is designed to put a credit freeze on official financial flows to Zimbabwe.

ZDERA was passed by the United States government in 2001 in response to what was described as the “fast-track land reform” in Zimbabwe.

In 2021, the U.S. Embassy in Harare said ZDERA calls for the Government of Zimbabwe to restore rule of law, hold free and fair elections, commit to equitable and transparent land reform, and subordinate military and national police to civilian government.

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31 Comments

bob D · 2 years ago
pk mha ta yamai
Anonymous · 2 years ago
Bushlawyer4Ccc makaendepiko.zvi4jessica zvawandisa kuno
oliver peoples · 2 years ago
seriously ndombofunga kuti ndini ndega ndazviona Jessica haana soft spot kunge vatiri kuona avo
Greatworld · 2 years ago
Ndaona next apo aramba futi kuti akaramba
coni · 2 years ago
kutambisa kusoro Teresa misoro nevasina kana rhekeni dzeshiri apa Uchida kuuraya Nzou kkkkkk
Miss Jessica · 2 years ago
can you see sanctions no....can you touch sanctions no according to science anything that cannot be seen nor touched doesn't exist so we don't have sanctions in Zimbabwe iwewe imbecile coni abviseka ma sanctions ac****mbe remunhu
oliver peoples · 2 years ago
Jessica u made my day haha you are back to old days iwewe
Anonymous · 2 years ago
Tangai ma verenga zidera iripachena haina kana kumbovigwa mochi nzwisisa mashoko aGovernor muchazoona kuti munongo mhanya kunyora comments about zvnhu zvamunenge musiri kutonzwisisa.Asingazive kuti EU is our trading partner all along ndiani???so chitsva ndechipi kana governor vakati hapana trade restrictions on our imports and exports???and asiri kuziva kut Zimbabwe senyika kunana IMF uko yakanzi chimbomirai kuipa mari and certain individuals and companies ngavambo freezer vakadaro asiri kuzviziva ndiani????
Nimrod · 2 years ago
We said it that this man would rush to the Herald and cleanse his statement.
MuPfungwe Chaiye · 2 years ago
Dunderheads
coni · 2 years ago
Nyangwe mukaudzwa chokwadi kuti nyika ine ma sanctions hamutendi nokuti iyemi nezvinozviita zvivatungamiri zvenyu ndimi makanokumbira ma sanctions ku USA vet away manje hamufi makatonga Munofungidzira kuti vote ichakupai chigaro Musadhakwa imi Zanu pf yakasimba kose ku vote nekupfuti saka Inova sei
CCC · 2 years ago
Hatisikurwa so 'pfuti' dzei nhai futi mkwasha
Coni · 2 years ago
Saka iwe uri kuti pane vakaenda kunokumbira masanctions ku USA muna 2001 vasiri vatongi ve Zimbabwe USA ndokuvaterera zvichireva izvo kuti vanhu ivavo vane simba maererano nekutongwa kwe Zimbabwe. Pedzezvo imi ve zanu pf makabatana nedzimwe nyika dzemuAfrica nevana veprimary vamakaendesa kumarally mukati tokumbirawo masanctions abviswe USA ndokuramba. Zuva nezuva munowukura kuti masanctions ari kukanganisa nyika anoita kuti 20 bond isatenga chinhu. Ndoona sekuti tikaisa iye wacho wamunoti akanokumbira masanctions pachinzvimbo cheushe nhamo dzedu dzinopera nekuti kana akambogona kukumbira masanctions acho anotadza nei kukumbira abviswe 20 bond yobva yatenga.
Gracious Tagwireyi · 2 years ago
Mbgwa
Jah 🦓 Tsvarie-07 · 2 years ago
Tichachiona chakasvuura hanga muhuro NO ZESA NO WATER NO SANCTIONS 😀😀😀
Wizard · 2 years ago
Kkkkk laughing out loud
gudo · 2 years ago
mukomana aripama1 office yaakapinda ahina zera naye. akungorotomoka kutaura..pandakanzwa kuti ashedza herald ku office kwake ndakatoziwa pane damage control irikuda kuitwa
Crde Van Gal · 2 years ago
Wavhundutsirwa ne ZANU pakutaura chokwadi kuti hakuna ma Sanctions. dodi remunhu .I knew kuti nyaya yako ichakunetsa hezvo .
Ratti Capone · 2 years ago
These people are definitely clowns you thing people can put words in your mouth stop taking us as fools remember resign uone kuti post yako if advertised panogona kusvika over 500 respondents who are equally educated to fill that post so act accordingly
Miss Jessica · 2 years ago
working in cahoots with zanu pf will jeopardize your good work.. you were a great person working in the banking industry bf zanupf drag you into their madness we can't even see how powerful you are just admit you're also a failure hauna chaunoona zvima 20 bond zvako zvakurambwa uko nonsense
Maparamuro · 2 years ago
Kunzwisisa kunodiwa mukurarama
sancho · 2 years ago
mngudya panonetsa john hpna week watura kuti zimbabwe haina masanction ikezvino wakuramba kuti hauna kuzvitaura aaa ," panonetsa "
sancho · 2 years ago
mngudya panonetsa john hpna week watura kuti zimbabwe haina masanction ikezvino wakuramba kuti hauna kuzvitaura aaa ," panonetsa "
pk · 2 years ago
hsmuna kunzwisisa vana musorobanga ve ccc. munonzwa asi hakunxwisise
Mablazo · 2 years ago
Munenge muchingotaura musina kufunga vanausoro-banga. Wakazvitaura iwe. Izvozvi ucharamba kuti wakataura kuti woda kusungisa vanhu vari mudocumentary recorruption. Tokuzivai nevakakudzidzisa tovaziva. Ndiwo matongero enyu

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