Zimbabwe’s finance minister has a plan, but is it gobbledegook?

Zimbabwe finance minister Mthuli Ncube. Picture: AFP/FABRICE COFFRINI

Ncube, a Cambridge University-trained economics professor, has reined in state spending and boosted tax revenue. Still, the introduction of a new currency in June, accompanied by a ban on the use of the dollar, has seen the rapid erosion of spending power with the Zimbabwe dollar now trading at almost 10 to the dollar after its predecessor, a quasi-currency known as bond notes, was officially said to be at parity as recently as February.

Under a debt-settlement plan, which Ncube said he’s discussing with creditors, Zimbabwe would complete an International Monetary Fund staff-monitored programme in January. It would then:

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