Biti wants Curator for RBZ

Biti wants to legislate for the setting up of a curators office and the appointment of a judicial manager address the banks huge liabilities. Others have suggested that President Robert Mugabe should issue a decree to protect the central bank from creditors who have successfully obtained court orders to auction off bank assets.

Obviously, the ruling cabal in Mugabes Zanu (PF) are opposed to Bitis proposals because they do not want public disclosure of delinquent loans made in years past by the central bank.

Harare economist John Robertson questioned whether Zimbabwe had the capacity to name a curator for the central bank, saying the country may need to turn to the international financial community for help.

Robertson went on to say that some in Zanu (PF) may not want an independent curator digging into their past transactions with the bank. These politicians may prefer to have someone they can manipulate, rather than a person who will unearth the RBZs shady deals, he said.

Economist Rejoice Ngwenya said that Zimbabwe should set up a monetary policy committee to run the countrys monetary system instead of appointing a curator for the RBZ.

Biti has been hailed for his solid stance against corruption as evidenced by his recent grilling of mines minister, Obert Mpofu, over the way he amassed vast wealth for himself in shoddy deals, including the disappearance of diamonds from Chiadzwa.