<p>The Zimbabwean government has stepped up efforts to plug illicit financial flows as part of promoting anti-money laundering and countering the financing of terrorism.</p> <p>This was disclosed by the finance minister, Patrick Chinamasa when he addressed parliament on Thursday in a presentation of the country’s mid-year budget speech.</p> <p>‘‘Government is implementing our National Anti-Money Laundering and Combating Financing of Terrorism Strategic Plan for 2015–2018. In this regard, guidance is drawn from the recommendations of the National Risk Assessment report conducted over the period 2014–2015, with assistance of the World Bank,’‘ he said.</p> <p><strong><span style="color:green;"><span class="caps">SUGGESTED</span> <span class="caps">READING</span></span></strong> <a href="http://www.africanews.com/2016/07/17/sanctions-crippled-our-capacity-to-own-our-international-obligations-zimbabwe-s/" target="_blank">Sanctions crippled our ability to own our international obligations – Zimbabwe Finance Minister</a></p> <p>He further outlined practical measures the state was putting in place to deal with the financial crimes, among others setting up a special anti-money laundering investigation unit within the police and enhancing inter agency cooperation in the fight.</p> <blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">There is progress with Gvt’s anti-corruption drive, now benefiting from pursuit of coordinated Inter-Ministerial interventions ~ Chinamasa</p>— The Herald (@HeraldZimbabwe) <a href="https://twitter.com/HeraldZimbabwe/status/773876502572195841">September 8, 2016</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <p>According to the presentation, Zimbabwe’s economy is now expected to grow 1.2 percent in 2016, from the 1.4 percent forecast earlier in the year. Also the budget deficit had already overshot the target in the first half of the year at $623 million, and that the shortfall for the whole year could rise above $1 billion, Reuters reports.</p> <p><strong><span style="color:blue;"><span class="caps">SUGGESTED</span> <span class="caps">READING</span></span></strong> <a href="http://www.africanews.com/2016/06/24/cash-strapped-zimbabwe-rejects-single-currency-regime/" target="_blank">Cash strapped Zimbabwe rejects single currency regime</a></p> <p>The policy review according to the minister allows the government to take stock of developments during the first half of the year. It also provides members of parliament (MPs) an opportunity to consider necessary budget interventions to re-align their fiscal policy thrust.</p> <p>‘‘The review also gives progress on our on-going re-engagement process with the international financial community,’‘ Chinamasa noted. </p> <p><strong><span style="color:red;"><span class="caps">SUGGESTED</span> <span class="caps">READING</span></span></strong> <a href="http://www.africanews.com/2016/05/21/zimbabwe-calls-on-afdb-for-economic-assistance/" target="_blank">Zimbabwe calls of AfDB for economic assistance</a></p> <p>The 2016 budget is under the theme, “Building a Conducive Environment that Attracts Foreign Direct Investment,” it focuses on Zimbabwe Asset implementation program. The framework for the budget is contained in a 10 point plan presented by President Mugabe in the State of the Nation Address delivered to parliament in August last year</p>
The review also gives progress on our on-going re-engagement process with the international financial community.