Chinamasa biggest bank robber country has ever seen : Biti

Former Minister of Finance Tendai Biti has savaged his successor  Patrick Chinamasa and accused of him of being responsible for Zimbabwe’s economic woes by raiding people’s RTGS bank balances and issuing “toxic treasury bills.”  Biti called Chinamasa “the biggest bank robber the country has ever seen” and accused him of conniving with Reserve Bank of Zimbabwe (RBZ) governor John Mangudya to raid people’s bank accounts.

Speaking at SAPES Trust, Biti:

There is a myth that we are in a cash crunch because people are externalising.

What has happened is that we have had a bank heist, a bank robbery at the central bank and that robber is Patrick Chinamasa who has been raiding these RTGS balances from the system.

It’s not enough that they are stealing that which is already in the system; they are also stealing income that is accruing to us in terms of export proceeds.

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They have been issuing treasury bills like confetti.

They have been issuing treasury bills to finance their recurrent expenditure. When President Mugabe goes to Singapore, he is taking at least US$6 million which is somewhat being financed by a very narrow revenue base

The Ministry of Finance has become a nominal ministry; there has been state capture of the Ministry of Finance by the office of the OPC (Office of the President and Cabinet) which euphemism of junta, Mnangagwa and Lacoste, that horrible politics…just two people are doing this, Chinamasa and his friend (Mangudya).

How does a self-respecting minister actually go and steal people’s monies that are in RGTS balances? I don’t understand it!

And when you are a lawyer for that matter who knows the law! There is no provision in our law that allows a government to maintain an overdraft with the Reserve Bank; it’s not there at all.

You have a group of men and women who are not afraid of other people’s assets. When I did criminal law, I was taught that if you take something without someone’s consent, its theft.

I have a problem with Patrick and his colleagues because they are cynical; they have no respect for rules, they have no morality at all and that’s why we are in this crisis. We are run by a bunch of thugs without respect to rules, principles or morality.

How do you go to a shop like SeedCo and issue a treasury bill that you know it is not even worth the paper that it is printed on.

More: New Zimbabwe