Zim Needs “Big Bang” Economic Reform Programme But Is Being Slowed Down By "Political Collar" - Mthuli Ncube

Minister of Finance and Economic Development Mthuli Ncube has said that the country’s economy needs a “fiscal shock” in order to revive it, although this will be slowed down by the politics of policymaking.  Speaking to journalists in New York on Friday, Ncube said,

My preference is a fiscal shock, but there is a what you call the political collar or the politics of policymaking which then slows you down. My preference would be more of a big bang approach because every day counts in terms of cost.

The new government is working on getting the economy back on track and this requires paying off roughly $2 billion in arrears to international financial institutions such as the World Bank, African Development Bank (AfDB), European Investment Bank (EIB) and the $4 billion it owes the Paris Club of sovereign nations.