---

---

Published by the government of Zimbabwe

Zimbabwe: Gono - Misconceptions, Misinterpretations

9 July 2009

---

opinion

Harare — THE one who stands by you is your true brother or sister. Does this not apply to the Reserve Bank of Zimbabwe Governor Dr Gideon Gono after his extraordinarily sterling efforts to weather the economic storm which engulfed this nation?

His continued stay in office has, and apparently still is, a subject of vociferous debate.

I had refrained from joining this debate, save for some passing references, to let the debate rage and learn about what others had to say on this issue.

Indeed sometimes it is prudent to withdraw oneself and adopt other perspectives, moreso when emotions run high, particularly when one's objectivity is bound to be questioned in certain quarters based on certain perceptions.

My position will naturally, if not inevitably, lead to a diverse range of reactions as perhaps would be predictable on any subject.

What I personally find very touching about the good governor is his proactive stance.

For once let us put aside our political differences and let our judgement transcend these considerations and as objectively as we can, analyse this issue as humanly possible as we can.

I am fully mindful that the Gono issue is one of the outstanding issues of the Global Political Agreement, an arrangement which has to work come hail or high water. The alternative is simply untenable for this inclusive agreement is the best way forward for this nation.

A full and exhaustive catalogue of measures conceived, implemented and altered by the RBZ to keep Zimbabwe going would require inordinate space and time.

I will, however, endeavour to highlight some to cement my arguments.

Sanctions, whatever their cause and magnitude, had profound, extensive and crippling effects on our economy.

There have been assertions in some quarters that these sanctions were only targeted at certain individuals but I find this argument unsustainable.

• An economy which has no lines of credit to talk about;

• An economy which has no balance of payment support;

• An economy which has no foreign direct investment;

• An economy subject to the most extreme and damaging media coverage, cannot operate on a business as usual mode.

• An economy shut out from the international community is under siege. Period.

The effects therefrom:

Foreign currency was acutely in short supply and the ripple effects were felt by all and sundry, whatever your position or means.

This country faced problems and challenges which could have led to a complete collapse but we soldiered on. How did we keep going?

My answer is unequivocally that, to a very large extent, this was attributable to the super-human efforts of the RBZ personified by the Governor.

• Currencies were introduced and reintroduced.

• Banks were closely monitored and corrective measures undertaken.

• Machinery, fuel and other inputs were given to farmers to increase production on farms.

• Parastatals were funded to sustain service provision to the populace.

• Debts were partially honoured as our resources permitted

• Diasporans were engaged to salvage this home country.

All these actions were motivated by a singular need to keep this economy on the go. We all know the hardships we underwent which have somewhat diminished presently.

This economy would have been virtually non-existent in the absence of intervention measures by the central bank.

Quasi-fiscal activities were condemned ad infinitum by all and sundry, policies were attacked relentlessly but did we ever pause to think about the multiplicity of challenges, the competing considerations and the potential social consequences which had to be factored into the equation.

Of course times were hard, perhaps even unimaginably so and yet it would have been worse had it not been for the Governor and his team.

Some people, somewhere would rather have had the total capitulation of this economy by whatever means.

No one is infallible and not least the central bank chief so maybe he could have made misjudgements here and there but all these were well-intended.

No stone was left unturned, no stop was not pulled, no avenue was not pursued to ensure that in the face of such adversity, we prevailed.

Electricity was available albeit intermittently, fuel was sourced but rather inadequately, industry produced but again grossly insufficiently.

But the little we had, that which kept us going, that which sustained us, that which ensured you and me lived, was largely due to intervention policies by the RBZ fuelled by the grace of God.

How then do we turn against the very author of our survival?

How do we condemn a man so passionate, so committed, so alive to our needs when others wanted to ensure our obliteration?

As was said earlier, the GPA is a viable option, without which our options are severely diminished. We need to work together, end of story. The challenges that confront us demand nothing less.

Deputy Prime Minister Arthur Mutambara hit the nail on the head when he said that which unites us is more than that which divides us.

Let us collectively resolve our issues, summon all our energies and reaffirm the need to see this economy fully functional.

This is no time for scapegoats. This is not about party affiliation but the common need to sponsor our rejuvenation. Our common destiny should ensure it.

In God I trust!

Read comments. Write your own.

More News on allAfrica.com

Bollywood Meets Nollywood at Ion International Film Festival In what appears to be the ...	More LRA Rebels Surrender in DR Congo A total of 34 rebels of the Lord's Resistance Army ...
HIV Drops in Wa The Wa Municipality recorded a drop in HIV prevalence rate from 5.8 percent ...	Govt Reintroduces DDT to Eradicate Malaria Malaria remains a huge health challenge in ...
Amodu Not the Problem of Our Football - Galadima Former chairman of the Nigeria Football ...	'Stop Acquisition of Farmland in Continent' - Gaddafi Libyan President Colonel Muammar ...

---