Zimbabwe Raids Private Bank Accounts
20 Apr 09 | Reuters
Zimbabwe’s central bank raided the private bank accounts of companies and donors to fund President Robert Mugabe’s government during the economic crisis, according to a central bank statement made available on Monday.
Central Bank Governor Gideon Gono said the central bank took foreign currency from private accounts to help pay for some $2 billion in loans to state-owned companies and utilities and for power and grain imports.
He said the government still had to repay about $1.2 billion to the central bank, which would allow it to repay money it owes private accounts.
“Immediate reimbursement to the central bank … will enable the Reserve Bank to also reimburse all corporate and NGO foreign currency account dues,” the central bank said. >>>