In his drama-filled 10 years as the governor of the Reserve Bank - TopicsExpress

In his drama-filled 10 years as the governor of the Reserve Bank of Zimbabwe (RBZ), Gideon Gono routinely parcelled out everything from cheap cash for struggling large firms to scotch carts for peasant farmers. The largesse was at the centre of President Robert Mugabe’s patronage system and made Gono one of Zimbabwe’s most powerful men. The overspending bankrupted the central bank, leaving it with a debt of close to $1.3-billion. Now the government wants taxpayers to pick up the bill, and resistance to the proposal is rising. The Reserve Bank of Zimbabwe (Debt Assumption) Bill, which the government has tabled in Parliament, will allow it to take over debts racked up by the RBZ under Gono’s tenure.

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