TI-Z ReactiontTo the alleged abuse of funds at the Central Bank

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TI-Z ReactiontTo the alleged abuse of funds at the Central Bank

Transparency International Zimbabwe (TI-Z) is gravely concerned by media reports implicating the Reserve Bank of Zimbabwe for fraudulent handling of donor funds amounting to about US$7,3 million. TI-Z is not very astounded by these developments, if the allegations are anything to go by, because the organisation has for the past decade been calling for an overhaul of the national integrity systems. There is an urgent need for structural and systemic reform in all state institutions in Zimbabwe. The alleged fraud at the RBZ can only be a symptom of deep-rooted corruption within government and government institutions. It is sad and disturbing to note that while many HIV/AIDS patients are dying and struggling to get access to treatment such huge amounts of money were allegedly spent “not on the intended purpose” in the words of John Parsons, Inspector General of the Global Fund. On 10 October 2008, TI-Z issued a press statement and raised the same concerns, which are now surfacing. The press release stated; “no amount of aid will effectively restore an economy leaking heavily with corruption as Zimbabwe.” Giving aid to a corrupt system of government is as good as pouring water in a leaking jar, it will never be full! If anything, Zimbabwe needs all kind of support to rebuild its integrity pillars such as parliament, the judiciary, ombudsperson, Attorney General and Auditor General’s offices among other oversight bodies to restore good ‘enough’ governance and the rule of law”

This also calls upon the political leadership to swiftly and effectively implement the Power Sharing Agreement signed more than a month ago. Article 3 of the Agreement states the need for urgent economic recovery through the establishment of a National Economic Council. It is TI-Z’s position that such a Council should be inclusive and allow for broad civic participation. Zimbabwe urgently needs a responsive, responsible and transparent Ministry of Finance and Reserve Bank. The same is required of all other public and private institutions for economic recovery and growth to be realized and end the suffering of the people.

Signed
……………………………………………..
F.B Mangodza
Chairperson
Transparency International Zimbabwe