Wednesday, January 25, 2006

Corruption? Moi?

Reserve Bank of Zimbabwe Governor Gideon Gono took aim at corrupt officials in his latest quarterly monetary policy statement on Tuesday, accusing top officials of “failing the economy” and the country by engaging in corrupt activities and graft.

The country must also re-establish economic ties with the rest of the world, he said. "As Zimbabwe, we cannot go it alone, and it is imperative that we seek to work with other international business partners, particularly those that see the virtues and sincerity of our efforts and wish us well," he said in a televised address.

The central banker warned that the economy was “at the edge of the cliff” with hyper-inflation spiraling even higher and with corruption “widespread and deep-rooted. Gono told the country that "we are, as Zimbabweans, fast losing our integrity and sense of economic justice and fairness as a people, right across the board.”

He acknowledged that consumer inflation, which was clocked at a 585% annual rate in December, would probably continue to rise towards 800%.

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