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Minister: We Won't Negotiate With U.S to Boost Zim Economy

Speaker of Parliament Jacob Mudenda
Speaker of Parliament Jacob Mudenda
Finance and Economic Development Minister, Patrick Chinamasa, says though Zimbabwe is experiencing a serious liquidity crunch it will not negotiate with the United States to improve the flow of the US dollar into the economy because of the so-called targeted sanctions imposed on President Robert Mugabe and members of his inner circle.

Responding to questions from members of the National Assembly, Minister Chinamasa said the governments of America and Zimbabwe are not on talking terms, both politically and economically, adding it will be impossible to initiate such talks.

He said Zimbabwe is alone in its fight to improve its failing economy because of sanctions imposed by countries such as the United States and its western allies.

Chinamasa said the liquidity crunch can only improve if the country gets loans, lines of credits, foreign direct investment and foreign aid but said efforts to secure these were being hampered by the targeted measures.

He said the government has come up with a raft of measures to improve the economy, adding these are anchored on its new program – Zimbabwe Agenda for Social and Economic Transformation (ZimAsset).

Chinamasa also told the National Assembly that government is looking for $100 million to develop the Beitbridge border post after a $98 million deal negotiated by the inclusive government with some private investors collapsed.

He said once the funds are secured the border will be developed to improve business transactions and the movement of traffic and travelers.

Meanwhile, the Speaker of the National Assembly Jacob Mudenda on Wednesday ruled that members of the house cannot abuse their parliamentary privileges by making unsubstantiated statements against fellow members, officers of parliament and members of the public.

He said appropriate actions will be taken against members found to have abused parliamentary privileges.

Mudenda said members have been abusing their privileges since the beginning of the eighth parliament.

He cited Mbizo lawmaker, Settlement Chikwinya, saying he made unsubstantiated statements against former Technology and Information Minister Webster Shamu and Zimbabwe Revenue Authority commissioner general Geshom Pasi during a debate on the deteriorating state of corporate governance in the country.

Chikwinya alleged Pasi was earning a $310,000 monthly salary.

Mudenda said members should follow laid down procedures if they have issues with fellow members, officers of parliament or members of the public.