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Zimbabwe Central Bank Debt Assumption Bill Irks Bulawayo Residents

The Reserve Bank of Zimbabwe engaged on several quasi-fiscal activities at the height of hyperinflation which included the provision of agricultural inputs. (File Photo)

Public hearings on the Reserve Bank of Zimbabwe (Debt Assumption) Bill continue with most Zimbabweans saying they should not be forced to repay funds that benefited some individuals, who accessed various schemes when the RBZ engaged in quasi-fiscal activities at the height of hyperinflation in 2008.

Bulawayo residents told a parliamentary public hearing session Tuesday that the people, who benefited from agricultural input schemes and other activities spearheaded by the RBZ and Zanu PF, should pay what they owe without the state burdening taxpayers.

The state is set to take over the bank’s debts incurred during the hyperinflation period if the bill is passed into law. The RBZ owes private companies, NGOs and others millions of dollars it appropriated to allegedly keep hyperinflation at bay.

Indications are that some of the debts, including 40 million dollars owed to Meikles, cannot be accounted for.