Charamba Justifies Mnangagwa’s Lie Concerning $100 Million UK Loan

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President Emmerson Mnangagwa’s spokesperson George Charamba justified his boss’ lie that the United Kingdom advanced a $100 million loan to Zimbabwe to ease the current cash crisis.

Charamba said Mnangagwa was aware that the loan was a line of credit for the private sector. He however said Mnangagwa was right to say that the loan will ease cash shortages because there is a direct link between the loan and improvement of the cash situation in Zimbabwe. Said Charamba:

Above all, the facility has the effect of increasing capacity utilisation in the economy including ramping up our exports thereby improving foreign currency receipts. If one considers that the bond note is in fact a surrogate currency, which is linked to our foreign exchange reserves, it’s pretty obvious that there is a direct link between the $100 million facility and the improvement of the liquidity situation in the country. When politicians are addressing public meetings, within a given time frame, the expectation is that certain connections which are so obvious should be made by those whose duty it is to build knowledge and convey information with completeness.

More: Chronicle

George CharambaEmmerson Mnangagwa

George Charamba is Zimbabwe's presidential spokesperson as well as the permanent secretary in the Ministry of Media, Information and Broadcasting Services. Charamba is one of the longest serving permanent secretaries in the Government of Zimbabwe.He was reported to be the person using an assumed name... Read More About George Charamba

Emmerson Dambudzo Mnangagwa is a politician and the First Secretary of the Zimbabwe African National Union-Patriotic Front. On the 3rd of August 2018 ZEC Chairperson Priscilla Chigumba announced that Mnangagwa had won the popular vote by 50.8% ,hence he was duly elected to be the... Read More About Emmerson Mnangagwa

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7 comments

  1. Transparency Reply

    Charamba- Lying is the DNA of ZANU why shouldn’t he just say the truth. Why does ZANU want to fool the people? Well, we have been fooled for 38 years and how about the 2 million jobs in 2013? ZANU accuses the opposition of lying yet you are the government which should showcase how many new jobs you have created, roads repairs, banks no longer have queues etc. not MOUs. Bussing school children to your rallies and rigging election. You still expect us to vote for you

    • Econ 101 Reply

      Why do you choose to show ypur ignorance of economics in this way?

      Here is a quote feom an economics 101 class:

      “Banks and money are intertwined. It is not just that most money is in the form of bank accounts. The banking system can literally create money through the process of making loans.”

      It is called the money mulplier effect. By extend loans banls can create more times the money printed by a government. Search any elementary economics textbook that you may understand this simple peinciple that Charamba did not quite explain

      • THE BANKER Reply

        try to make sense and be practical, don’t feed people bookish inapplicable material to our Zim context. please>>>>

  2. Deng Xiaoping Reply

    ED was spot on on the issue of 100 million dollars,And Charamba is also correct.Currently my brother the reformed ZANU PF brand is selling like hot cakes globally.I do not see any political grouping stopping them.#TheTruthHurts

  3. Thanks Reply

    usanyepere vanhu 4 the sake of yo job rikapera basa iri unopinda ma1 mwana vamai

  4. Me Reply

    @transparency, if you have your economics and international trade head screwed on you’ll understand the logic …..

  5. Jimalo Jonki Reply

    George is absolutely right I will basically explain it to the thick minded people when the the private sector gets this money they do not put it under the pillow it will be in circulation. Yes the truth hurts I was shocked when one member of the Opposition complained why Britain was helping Zimbabwe the same people even called for Sanctions to stay in place for what to extend the suffering of people and give their flipping dreamboy instant coffee Chamisa to win ? The road to state house is not as easy you want to think he must sharpen his negotiating skills and acknowledge what other man have achieved as for George being out of work Chamisa would do hellsite better if he had people like George advising him instead of the dead would he surrounds himself with I went to school with that man he is a quiet and bright boy good at what he does let’s see the fragmented alliance come up with candidates and form a government kanzato kanzato means they are acknowledging non of the can stand against ED on their own vote wisely Mdc has squables and they always get around this by splitting further imagine if they were a government they need to show they can unit for a same purpose of progressing Zimbabwe not individualistic selfish agenda voting for a person because he is young is a very incompetent way of campaigning

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