2017 National Budget Comments (Part 4) by Tapiwa Mashakada, MDC Secretary for Finance and Economic Affairs
Are Sanctions Real? In international law only the UN Security Council can impose legal sanctions. In the case of Zimbabwe this did not happen. The sanctions that were imposed by the EU and the United States are of a bilateral nature. In other words nothing can stop other countries from engaging and helping Zimbabwe.
Starting from the region, the 53 African countries are free to help Zimbabwe. After all South Africa is our biggest trading partner. Moreover Zimbabwe is endowed by abundant natural resources which can be leveraged to raise resources.
Even though sanctions are targeted, and mainly in the form of travel bans, European and Asia-Pacific countries continue to rescue Zimbabwe. Paradoxically, Britain, continues to lead the pack of bilateral benefactors. Look at the following amounts Zimbabwe has received between January and September 2016:
- . Britain – USD68 million
- . China – USD62 million
- . EU – USD24 million
- . Sweden – USD16 million
- . Japan – USD11 million
- . Netherlands – USD10 million
- . Denmark – USD9 million
- . Swiss – USD6 million
- . Australlia – USD 5 million
- .Germany -USD4 million
In addition the *AfDB has pumped – USD2.7 million
- Globak fund – USD114 million
- UNDP – USD4 million
- UNICEF – USD8 million
- WHO – USD2 million
- UNFPA – USD1.7 million
- FAO – USD613 thousand
So really this sanctions mantra is blown out of proportion.
Most of the Zanu PF individuals, parastatals and financial institutions that were put on the sanctions list have now been freed. This has not just happened out of the benevolence of these countries but the collective representations of all Zimbabweans including my party the MDC
But in terms of economic prejudice, what sanctions have failed to inflict on Zimbabwe over the last 16 years was inflicted by corruption. In no time through corruption and illicit financial inflows, Zimbabwe has lost billions. The USD15 billion that we all have come to know is just but a tip of the iceberg. Knowledge is power. I rest my case.