George Guvamatanga @GGuvamatanga Twitter profile

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George Guvamatanga

@GGuvamatanga

6 years

Press Statement on the Importation of Essential Commodities

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George Guvamatanga

@GGuvamatanga

5 years

Zimbabwe becomes the 28th Shareholder of Africa50 following signing of the agreement in Kigali today.This opens the opportunity for Infrastructure funding.We continue on our journey to be part of the broader Global Financial community. @MthuliNcube @nickmangwana @InfoMinZW

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George Guvamatanga

@GGuvamatanga

6 years

@matigary Greetings to you all and I glad for this opportunity to outline Govt.policy and thanks to @matigary for providing this ground breaking platform

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 4/Regardless of the currency we use as long we do not produce we will not change this economy.Thats why as Government the policy thrust is now on production and developmental spend and investment.

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George Guvamatanga

@GGuvamatanga

5 years

We keep moving!

Prof. Mthuli Ncube

@MthuliNcube

5 years

IMF Staff Completes Mission for a Staff-Monitored Program to Zimbabwe

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George Guvamatanga

@GGuvamatanga

6 years

@kmugova @matigary @Wamagaisa @MthuliNcube Without going into the details on the terms and conditions of the facility.I would like to categorically state that NO Treasury Bills or similar instruments were issued for this facility.

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George Guvamatanga

@GGuvamatanga

5 years

@DeafZimTrust @MthuliNcube @JoshuaTMalinga @edmnangagwa I have advised the ZIMRA Commissioner General and the ZIMRA Bulawayo office will make contact with Robert and resolve this matter amicably.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary Fiscal Consolidation is one of the main thrust of the TSP.We will achieve that by enhancing domestic resource mobilization and a tighter control on we speak various measures have been implemented to manage Government spending

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George Guvamatanga

@GGuvamatanga

6 years

Imagine you are an Arsenal fan uchinzi Brighton apo pa den pabikwa Hove!(Stolen)

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George Guvamatanga

@GGuvamatanga

6 years

It’s 30 minutes into the England/Nigeria game and I am still losing the remote control war.Lost the ‘get some warm clothes’ battle and will try and do better with the ‘eat your food’ encounter #DaddyDuties

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George Guvamatanga

@GGuvamatanga

6 years

@matigary HIPC is not the only available option for debt clearance.The Government is currently considering various debt clearance options following good meetings and consultations in Bali 2 weeks ago.We cannot misrepresent figures just to qualify for HIPC.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary Having spent all those years in the private sector,I felt the need to contribute to the country.Its easy to criticise from @outside .I want to be part of the change.

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George Guvamatanga

@GGuvamatanga

5 years

@KMutisi There are further reports on the review of passport fees and tollgate fees,both are incorrect.Government has not reviewed both the passport and tollgates fees.Both fees remain unchanged.

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George Guvamatanga

@GGuvamatanga

5 years

@kmugova @MthuliNcube @MoHCCZim @InfoMinZW The 2% is mainly targeted at the social services that is Health and Education.There are plans to address these challenges which were being hampered by the shortages of foreign currency.We have provided emergency funding in US$ while we finalise a more permanent solution.

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George Guvamatanga

@GGuvamatanga

5 years

@EquityAxis @Busisa74 @ProfJNMoyo This is unnecessary sensationalism.Feb revenue was $606.7m against a budget of $462.7 giving a variance of $143.9m (31%).This created room for a spend of $521.3m against a budget of $505.7m a variance of $15.6m (3%).Resulting in a primary surplus of $85.4m.

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George Guvamatanga

@GGuvamatanga

5 years

@hwendec @ProfJNMoyo This story is incorrect and not supported by facts.The Government met a delegation from the China Eximbank last week to review current and future projects.All current projects are continuing. @InfoMinZW @ZimTreasury @nickmangwana

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George Guvamatanga

@GGuvamatanga

5 years

@fortunechasi Anyone for the challenge?

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 3/‘Randisation’ is it has been proposed is the increased use or the adoption of the Rand as our main currency of exchange rather than the USD.Zimbabwe does not have a currency problem but a Production problem.

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George Guvamatanga

@GGuvamatanga

5 years

@Wamagaisa The current process is under review and a new structure and process will be introduced from January 2019.I am confident that this will address the issues you have raised.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary I haven’t checked the number but you being Mati,I will take your number on this one.’Ndabata mazwi’

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George Guvamatanga

@GGuvamatanga

5 years

@DemiZiwewera @energymutodi @nickmangwana @ProfJNMoyo @HeraldZimbabwe @ZBCNewsonline @daddyhope The Government has NOT increased the price of fuel.While a review of prices was done the decision is that the current prices should be maintained.ZERA will be issuing a detailed statement @zeraenergy @TheCEOMagZim

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George Guvamatanga

@GGuvamatanga

6 years

@matigary @FinanceZim @nickmangwana @daddyhope Aah aah Mati usandibire experience yangu.For the record I joined Barclays Bank on the 25th of September 1989 and officially left on the 28th of February 2018.I was the Banks Treadurer for 6 years and CEO for 10 years.

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George Guvamatanga

@GGuvamatanga

5 years

@advocatemahere Welcome back,but may you please go and get some real facts wozodzoka futi.What are the new facts in this recycled story?I repeat Government did not raid the Escrow accounts and all the projects are continuing. #KanyayaKenyuKakutobhohwa !

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George Guvamatanga

@GGuvamatanga

5 years

@OpenParlyZw @MthuliNcube This is factually incorrect.A single cab Toyota does not cost $125k.The police acquired 80 Single cab vehicles at a for operations and only 40 vehicles have been delivered to date.A fully equipped police service is an imperative in any country.1/2

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George Guvamatanga

@GGuvamatanga

6 years

@matigary I am a Banker by profession having spent over 29 years in various senior times at Barclays Bank

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George Guvamatanga

@GGuvamatanga

6 years

@matigary It is important to note that all Governments borrow.What is important is why and what are you borrowing for and is it there should not be an expectation that Government will not borrow at all.

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George Guvamatanga

@GGuvamatanga

7 years

Thinking of having my supper now in case there is an #Arsenal induced loss of appetite later. @RMakuchete @regis_gakaka @TrevorNcube

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George Guvamatanga

@GGuvamatanga

6 years

One of my Farewell gifts from @BarclaysZim is a donation voucher to my former School Kambuzuma High School.Thank you Barclays for this kind gesture.

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George Guvamatanga

@GGuvamatanga

6 years

@Auzqn @tenkatreats @maNkomo16 @TChivese @AlekeMukunga @NdiTendai @garweh2011 @Bweraz @Renegad96293687 @masiemsoko @ChelleChipato @tarirokamuti @unitedisforme @BruceChakatsva @xandatoto I can confirm that we do not have such plans.Our roadmap is clearly articulated in the Transitional Stabilisation Programme (STP) which my Minister @MthuliNcube released yesterday.

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George Guvamatanga

@GGuvamatanga

5 years

@EquityAxis Your figure for reserve money is incorrect.Reserve money has averaged 2 Billion over the last 3 months, so looks like your number does include FCA Nostro balances.Govt.has been recording a Primary surplus over the last 5 months so no money creation by Govt

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George Guvamatanga

@GGuvamatanga

5 years

@matigary @MthuliNcube @Mavhure We will be coming to the market with an Infrastructure Bond soon to be supported by a ring fenced structure utilising ZINARA cashflows to support road construction.The 1st TB Auction in years was held yesterday.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary The vision is outlined in the recently announced Transitional Stabilisation Programme (TSP) whichoutkines what we want to achieve from Dec 2018 to Dec 2020

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George Guvamatanga

@GGuvamatanga

5 years

@Machekatatenda @stewardbank @NMBBankZim @CBZHoldings @SundayMailZim @makethomike @johnthomasJT56 @VenaChivange @RunganoZengeya @MaccaGunde @takawirasam @ZB_Bank @NedbankZimbabwe @FirstCapitalZim @MthuliNcube The 2% tax is not applicable on Point of Sale/Swipe is incorrect to say that it is charged on all electronic transactions.

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George Guvamatanga

@GGuvamatanga

5 years

@WHokonya @OpenParlyZw @MthuliNcube Austerity does not mean creating a dysfunctional Government through lack of basic resources and equipment needed for the maintenance of peace and order in the country.The 80 vehicles were acquired at a total cost of less than $3m.

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George Guvamatanga

@GGuvamatanga

6 years

@FinancialTimes Zimbabwe making it to the front pages of the Financial Times with positive hope for this great nation.

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George Guvamatanga

@GGuvamatanga

6 years

@PrinceCruizM @ReserveBankZIM @ZimMediaReview @MthuliNcube This is NOT true.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 2/The goals of the TSP are 1)Carrying out Fiscal consolidation interventions 2)Stabilizing the macro-economy and Financial sector3)Introducing necessary policy and institutional reforms4)To transform to a private sector led economy

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 3/Over the past years,the Zimbabwe economy experienced significant changes that alters its structure,hence the need to capture the structural changes that were not previously included in national accounts.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 4/Furthermore it is always important to benchmark the Revenue Authority with their peers in the Region especially that are performing well.This is being done in the context of already existing cooperation frameworks.

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George Guvamatanga

@GGuvamatanga

5 years

@vargoe21 Yes you are right,it’s private companies under the direct management of ZUPCO through a special arrangement.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 4/ So those speculating against these policy pronouncements might realize that they would have lost money and opportunities as we operationalise these policies in due course.

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George Guvamatanga

@GGuvamatanga

4 years

@daddyhope It is TRUE that we authorised the release of 15 000 test kits that were at the is FALSE that a payment of $1m was authorised,neither was it paid nor will it be paid.

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George Guvamatanga

@GGuvamatanga

6 years

In one sitting you will have eaten an equivalent of a goat.Better to visit @TrevorNcube and buy the goat at $70.

conrad mwanawashe

@Connmwanawashe

6 years

Pricing in Zim's hotels: Lunch/dinner $25, soft drinks $3, local beers $3, Bottle of wine $25 (costs about $9 in shops) even if you justify that one is at a hotel! & most of these hotels service is poor. So what will I be paying for? @ZtaUpdates @zimrobbie @chiefkoti @larry_moyo

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 3/The policy measure is meant to eliminate the dilution effect on foreign currency receipts

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George Guvamatanga

@GGuvamatanga

5 years

@abbeyndooka The Zimbabwean team left for Morocco today,fully funded! @nickmangwana @InfoMinZW @ZimTreasury

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George Guvamatanga

@GGuvamatanga

5 years

@kmugova @tthe03 @MthuliNcube @fortunechasi @KMutisi The Financial arrangements have been concluded and ZESA will receive imported power from a Regional supplier with immediate effect.The relevant authorities will provide more details on how this will impact supply going forward.

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George Guvamatanga

@GGuvamatanga

5 years

@myzimbabwenews There was a technical issue which has been resolved and passports are being issued.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary The 5% is only applicable to the deposits in the RTGS FCAs and does not apply to NOSTRO both Govt and the RBZ will not have acces to depositors funds that will be in the NOSTRO FCAs.This is part of the monetary policy measures to contain money supply

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George Guvamatanga

@GGuvamatanga

6 years

@vincemusewe @fortunechasi While we have all been fixated on Bond of our real problem has gone completely out of hand.TBs are the real money printing machine.Govt. through RBZ issues TBs which are discounted for ‘RTGS’ by the banks.The ‘RTGS’ goes hunting for real USD.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 1/Currently the economy is using a multi currency arrangement which is dominated by the USD as a medium of transaction and store of value.While Currency Reforns are part of the TSP the current environment do not allow for those reforms to be done in a sustainable manner

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George Guvamatanga

@GGuvamatanga

5 years

@wanguda123 @OpenParlyZw @MthuliNcube Noted.We are also addressing some of the challenges faced by the broader social services delivery in the country.A lot is happening behind the scenes.

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George Guvamatanga

@GGuvamatanga

6 years

@Owen_Munya @matigary @Mavhure We are currently reviewing and consulting on taxes as part of the 2019 Budget process

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George Guvamatanga

@GGuvamatanga

6 years

@advocatemnyama Everyone is sending money to their mothers,fathers,brothers and sisters for living expenses/personal use.Ngavarege kuita kunge varikutumira mari iyoyo to the whole country.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 1/The achievement of Vision 2030 requires efficient revenue collection in order to fund Govt. programmed and initiatives that stimulate economic growth necessary to transform the country into a middle income country.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 3/All hard currency deposits undertaken by exporters,as well as individuals,will be recognised as such,that way encouraging hard currency inflows into the formal banking system.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 2/In the same vein,Government will disclose and be transparent with the utilization of the additional resources that will be generated through the 2% tax

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 1/Government borrowing in the past has been to cover for huge fiscal deficits.Fiscal consolidation entails improving revenues while tightening on expenditure.This will reduce the need for Government borrowing.Government borrowing going forward will only be to meet short term...

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George Guvamatanga

@GGuvamatanga

4 years

@VusiNyamazana @admirech @KMutisi A good subsidy must be Planned,Budgeted and Targeted.Subsidising everyone and everything is poor allocation of scarce resources The vulnerable are known,the current model can be improved.

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George Guvamatanga

@GGuvamatanga

6 years

@thomas_mupfuka @happ_zenge @FinxZim @ChigwidaFiona My response was that these contracts are covered by legal confidentiality clauses that span various jurisdictions and while we have our laws,it is important to protect other counter parties to the transaction.

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George Guvamatanga

@GGuvamatanga

7 years

My 1st withdrawal of the new bond notes and coins,will be testing acceptance with most retailers later in the day #BondNotes

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George Guvamatanga

@GGuvamatanga

7 years

I agree Zim is not poor,lack of productivity and poor resource allocation is not poverty.

larry kwirirayi ✍📔

@kwirirayi

7 years

Zimbabwe is not poor – Mugabe (and social media responds) via @ThreeMenOnABoat #3mob

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George Guvamatanga

@GGuvamatanga

7 years

I think Watsup should have a function to retrieve or delete messages to 'wrong recipients'.It will save the world!

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George Guvamatanga

@GGuvamatanga

5 years

@advocatemahere Your original story was $10m was raided from the Escrow accounts and that all Chinese projects had stopped Do you still stand on these facts?May you also provide details of the officials who are frantically running to sort out the mess as you have stated. @InfoMinZW @nickmangwana

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George Guvamatanga

@GGuvamatanga

6 years

@capitalkfm @GwennKay @Connmwanawashe @NyashaKMutizwa @kudzie_sharara @BibiMatenga @MakombeNyaradzo @napoleonnyanhi @RuvhenekoP Wetlands were left unoccupied for a reason.Then suddenly some people got greedy and started allocating stands on wetlands.The water now has nowhere to go.This water should be filling our dams and rivers but now it is a hazard

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George Guvamatanga

@GGuvamatanga

5 years

@vincemusewe There is a process of dealing with such projects.There is a specialized Joint Ventures team in the Ministry of Finance &Economic Development to handle these issues.May you please contact the Ministry and we will assist to unlock the gridlock.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 1/The separation of the accounts is meant to improve on the management of our monetary accounts with a view to ring-fence foreign currency for foreign exchange earners that include .,diaspora rem.,free funds&export retention proceeds

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 1/Rebasing of GDP means replacing the old base used for compliant GDP with a more recent base war for computing constant price production and consumption patterns of the economy change over time.

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George Guvamatanga

@GGuvamatanga

5 years

@OpenParlyZw @MthuliNcube 2/2.The country cannot have a police service that cannot effectively discharge its Constitutional mandate due to transportation challenges.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary The goals are 1)Fiscal consolidation 2)Economic Stabilisation and Stimulation of growth and creation of employment.Focus will be on quick wins like value addition and beneficiation

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George Guvamatanga

@GGuvamatanga

6 years

@matigary It has been a great month for me,I have realized that Treasury is Treasury whether it is for a Bank or Government.The principles are exactly the same

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George Guvamatanga

@GGuvamatanga

4 years

@Wamagaisa @ZimMorning_Post @MthuliNcube You are late Musaigwa but at @daddyhope made sure kuti ndavata pano,but we did comment.But imimi manonoka zva zve mangwana regayi ndivate.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 2/The UN Statistical Commission (UNSC)in particular recommends regular analysis of the economy,at 5 year intervals to check if there are changes in structure of the economy that justify rebasing

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George Guvamatanga

@GGuvamatanga

6 years

@matigary I can also say I am a Treasury Specialist as 13 of the 29 years I spent them in Treasury and ran the Treasury business for over 7 years both locally and in the region

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George Guvamatanga

@GGuvamatanga

6 years

@matigary The TSP document is also available on the Ministry’s website .

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 1/The thrust of the New dispensation is that Govt.shoukd be transparent with everything.including public finances.This has been demonstrated by making public the state of public finances,including the fiscal deficit and the overdraft at the RBZ

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 2/That also include loan proceeds while allowing other domestic transactions to be catered for through the RTGS FCA.The policy measure is expected to encourage exports and banking of the currency into the NOSTRO FCAs

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George Guvamatanga

@GGuvamatanga

4 years

@daddyhope @MthuliNcube This is a misrepresentation of facts.The letter being quoted was specific to the release of test kits that were urgently required.The letter was also very clear that no other purchases could be done.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 2/cont..requirements and for developmental needs.The RBZ overdraft will also be reduced in the coming budget and all TB issuances will be through a publicly announced auction system

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George Guvamatanga

@GGuvamatanga

5 years

@MlamboProf @myzimbabwenews That report is incorrect,passport fees have not been changed.Government focus at the moment is on clearing the current backlog.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 3/As Treasury,we are committed to provide support in upgrading ZIMRA infrastructure including IT will be aware that already actender has been wasted for upgrade of the Beitbridge Border post infrastructure.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 4/ZIMRA has also introduced Electronic Cargo Tracking Systems to plug revenue leakages as part of a technology driven process

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George Guvamatanga

@GGuvamatanga

5 years

@daddyhope @InfoMinZW On resolving the technical issues including paying for the purchase of 3 high speed printers we encountered a challenge with the contractor.Government has met all its obligations as agreed with the contractor We now await full resumption of production.

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George Guvamatanga

@GGuvamatanga

3 years

@brains_muchemwa @kudzie_sharara Those in Govt.who were smart enough to create this tight liquidity position should be able to be even smarter in dealing with FX debt.There is methodology to all the current market developments.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 2/In this regard an exercise has been ongoing to review the ZIMRA systems and procedures to identify part of the exercise,an IMF mission on Tax Administration Diagnostic Assessment Tool has been carried out.

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George Guvamatanga

@GGuvamatanga

6 years

@Doubtm @matigary The facilities do exist and most of them are covered by ‘Banker Customer confidentially clauses but we are looking at ways of communicating the terms and conditions without infringing the terms and conditions of the facilities.

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George Guvamatanga

@GGuvamatanga

5 years

@advocatemahere That is INCORRECT,you as a Lawyer will understand how an Escrow account has ‘dual ownership’.Also the Escrow accounts for these projects are not held at the RBZ or a Government owned bank.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 2/One of the requirements of joining tbhe RMU is that we should have our own currency and other conditions which we currently do not meet.Agsin it is important to differentiate between joining the RMU and ‘Randisation’.

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 3/ 5)Addressing infrastructure gaps;and 6)Launching quick-wins to stimulate growth.Through implementation of quick wins initiatives outlined in the TSP.I promise macro -economic stability and growth ,laying the base for economic take off in 2020

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George Guvamatanga

@GGuvamatanga

6 years

@tchasura Agreed,but while find and implement sustainable long term solutions,we need drugs in our hospitals and companies must continue to run among many other priorities.

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George Guvamatanga

@GGuvamatanga

6 years

Saturday morning playlist!

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George Guvamatanga

@GGuvamatanga

7 years

Team @BarclaysZim at the Ambassadors Polo Tournament @CatrionaLaing1

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George Guvamatanga

@GGuvamatanga

4 years

@ChitareJohn @matigary @TendayiManyange @SandeJaqueline @TinofaMutevedzi @shumbamutasa @MwanaWachihera @Thandzlk @MthuliNcube @nickmangwana @ChidzidziG @S_Harudzibwi The new subsidy policy is very clear and well understood by all Millers and @grain_millers .Government is meeting all it’s obligations as per contracts signed with each Miller.

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George Guvamatanga

@GGuvamatanga

7 years

BBA Ambassadors Polo tournament!Polo for charity @CatrionaLaing1 @capitalkfm @UKinZimbabwe

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George Guvamatanga

@GGuvamatanga

4 years

@mutongawaziwap1 @nickmangwana Anopa nekutora hupenyu ndi Mwari Baba vari kumusoro soro kwete Iwewe nemafungiro ako

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George Guvamatanga

@GGuvamatanga

5 years

@advocatemahere That is also IINCORRECT as all current projects are continuing and we are are discussing new projects.

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George Guvamatanga

@GGuvamatanga

5 years

@HStvZim @MthuliNcube @fortunechasi Government does not owe ZESA anything and has actually pre-paid its bills.There are SOEs that owe ZESA money and are being ‘encouraged’ to settle their outstanding bills.

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George Guvamatanga

@GGuvamatanga

5 years

@trmurerekwa My sincere apologies for the confusion caused by my previous message.2% is charged on Point of Sale(Swipe) transactions.

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George Guvamatanga

@GGuvamatanga

7 years

BBA at Bushman Rock @BarclaysZim @CatrionaLaing1 @capitalkfm

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George Guvamatanga

@GGuvamatanga

7 years

Morning playlist!!

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George Guvamatanga

@GGuvamatanga

6 years

@matigary 1/To overcome erosion of confidence in the banking system as exprienced during hyperinflation when depositors entire lifetime savings were lost.The TSP calls for the retention of the hard currency balances within the banking system

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