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OUR economy took a resilient complexion over the past decade, particularly in recent months, with a progressive focus on home-grown solutions, in the mould of the Zimbabwe Agenda for Socio-Economic Transformation (Zim Asset) set to be launched soon.
As the Asian tigers showed, solutions for developing world economies are endogenous with exogenous partnerships playing a complementary role. This is why Zanu-PF romped to victory on the back of inward looking policies at the expense of the outward looking MDC-T.
The party’s winning manifesto has since been synthesised into an economic blue-print to be bankrolled by mobilisation of domestic resources. We thus view the visit by the International Monetary Fund delegation this week as mere routine that should not detract us from our march to holistic independence on the back of self-reliance.
Our country survived insurmountable odds over the past decade and even prospered in some instances without IMF support, save for the US$500 million Special Drawing Rights that the institution doled in 2010 to fend off the effects of the global economic crisis.
The SDRs were disbursed to most countries in varying amounts and Zimbabwe was among the countries that got the least support. Outside that, our country has survived without assistance from the Bretton Woods institutions that have, in effect, been operationalising the illegal western sanctions.
We have in the process discovered that an economy can survive without the IMF’s support.
In fact the IMF actually constricts growth as facts on the ground from countries like Somalia and Mozambique would attest. Their one-size fits all approach has often proved disastrous. The IMF prescriptions are usually out of touch with reality hence they are not effective at all.
To us the IMF has never been sincere and we cannot say it’s wrong prescriptions have been inadvertent. The Bretton Woods institutions are part of the matrix of western hegemony, which is why their prescriptions have never worked anywhere in the world. These institutions perpetuate dependency.
The Economic Structural Adjustment Programme introduced in the 90s is one that we would all want to forget in a hurry. It left a trail of disaster whose traces are still evident in the economy today.
It would, therefore, be fatal if any such prescriptions would be adopted again. This would weaken the economy further, at a time much effort is being directed towards restoring it.
The institution had better be warned that Zimbabwe is not gullible and we would want to discourage Finance Minister Patrick Chinamasa from being too comfortable with the institution. He needs to take any engagements with a pinch of salt.
Is the team here at our invitation or is it because Zimbabwe has become fashionable once more on the back of its vast resources and the IMF would not want to miss the party.
We have discovered progressive ways of doing things and are not prepared to take on board anything that seems bent on frustrating the process.
The staff-monitored programme that Zimbabwe has adopted should be handled with care. We would not expect Government to take instructions from an institution that has seen no scope in rescuing us over the past decade but suddenly finds sense in being part of the story this country is writing.
Are we not the same country they said needed to be investigated for managing to pay our dues ahead of deadline in 2006? Did they not consider our funds dirty, humiliating us in the process?
Recent pronouncements by Minister Chinamasa that the IMF had made sure this country would not receive funding from multi-lateral institutions until we complete the staff monitored programme leaves us even more bewildered.
How come all of a sudden they have fallen in love with Zimbabwe and they now see opportunities where all along they have been disaster disaster?
What has motivated the change of heart? Can we trust them again Minister Chinamasa.
The United States and its allies, who have vowed to maintain their ruinous sanctions regimes, remain in control of the institution and we cannot understand how they can maintain illegal sanctions on us on the one hand, and seek to resuscitate the economy on the other.
Yes there are benefits that accrue from membership of the Bretton Woods institutions, but that is as far as we should go.
The institutions have an unenviable record that bids us to treat them with caution.
We thus challenge them to redeem themselves by walking their talk.
We have the resources, both human and mineral to revive our economy on our own terms. Let us give home-grown solutions a chance. Let us mobilise domestic resources, again
As a member of the community of nations, we value our membership of the IMF but this is not to say we should allow them to trample us.
Once beaten twice shy!
The Asian Tigers showed us the blueprint, none but ourselves can develop our economies.
Online Reporter