Ministry of Finance Needs A Sound Technocrat Like Nkosana Moyo, Not Chinamasa: David Coltart
Former Minister of Education, David Coltart, has said that he was very disappointed with President Emmerson Mnangagwa’ first cabinet saying that he hoped that Mnangagwa would have reached out to get more technocrats in cabinet. Coltart highlighted Mnangagwa’s appointment of Patrick Chinamasa as Minister of Finance and Economic Planning, as one that should have gone to a technocrat like Dr Nkosana Moyo or Simba Makoni. According to Coltart, Chinamasa was one of the main people responsible for the collapse of the Zimbabwean economy.
In an interview with Violet Gonda, Coltart said:
Well, I actually take a contrary view because the reality is that whilst Tendai Biti, the former Finance minister, stabilised the economy. Under his tenure, as you know, the economy grew, bank deposits grew.Feedback
Since Patrick Chinamasa took office as Finance minister, there has been a run on bank deposits. He is the person responsible for this massive budget deficit, which has been funded by the issuance of Treasury Bills.
He is the person responsible for issuing Bond notes. So he, more than anyone else, must take responsibility for the collapse of the Zimbabwean economy.
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I would have thought, if ever there was ever a position that needed a sound technocrat, someone like a Nkosana Moyo or a Simba Makoni, it was the Ministry of Finance.
So, I disagree with that. I don’t think it does inspire confidence in the public confidence in the Banking sector to have Patrick Chinamasa in that position.
More: The Standard
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