Herbert Murerwa

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The Hon. Herbert M. Murerwa, M.P. (Born 31 July 1941) is a former Zimbabwean Government Minister

Image:Zimb finance minister herbert murerwa.jpg

Herbert Murerwa recently engineered the historic repayment of US$120 million (out of US$300 million) in debt to the International Monetary Fund (IMF), prior to their enforcement of a "threat" to expel Zimbabwe from the IMF for nonpayment of arrears (Aug 31, 2005). Commenting on his country's accomplishment, he stated that it proved "that no one can write off Zimbabwe as yet," and that we "can still do things on our own." This repayment has put them in an excellent position to move forward on loan talks with neighbor South Africa for a loan of between US$200 and US$500 million.

During his reign, he has seen Zimbabwe's economy shrink by 30 percent in the past four years following the seizures in 2000 of about 4,500 white-owned commercial farms which sent agricultural production plummeting.

Inflation, at 164.3 percent in June 2005, increased to 254.8 percent in July 2005, creating a speed-bump on the road to the government's goal of bringing inflation down to 80 percent by year end. Murerwa recently presented a supplementary budget to pay wages, import food and build new housing, after admitting that targets for economic growth and inflation would be missed. Inflation was at 1193% in July 2006 making it the highest inflation rate in the world outside the war zones. Many people view him as the reason why the Zimbabwean economy has been taking a nose dive since the early 90s due to his 'yes my lord' approach towards Mugabe. This aggravated by the fact that he was opposing the currency reforms initiated by Gideon Gono, the Reserve Bank of Zimbabwe in August 2006. Before that he (Murerwa) wanted to introduce $250 000 bearer cheque during the absence of Gono which would have fueled the inflation rater further only to be stopped by Mugabe.

During his Fiscal Policy Review on 16 August, 2005, Murerwa stated(1):

"Bringing down inflation, initially to double digit, and ultimately to single digit levels remains our objective. The disinflation process will, however, not be smooth sailing. Addressing the prevailing high inflation challenges facing us demands that we all make sacrifices, with Ministries living within our economy’s means." This was quickly followed by the disclaimer: "There will simply be no magic solutions to our challenges."

He also had this to say on corruption:

"Corruption negatively affects the social and moral fabric of the Nation, encouraging indiscipline and rent seeking behaviour – with the resultant hardships largely falling on the poor. It pauses major costs to business activities and, hence, the introduction of various measures and institutions to decisively deal with this problem. In this regard, Government, in consultation with stakeholders, has announced the appointment of members of the Anti-Corruption Commission. Prohibitive penalties for corrupt practices are being considered, including the intensification of awareness campaigns of all existing Whistle Blower Funds. In the case of upholding the integrity of officers at the Zimbabwe Revenue Authority, Government has initiated ongoing measures to nip all corrupt tendencies at border posts. Already, a number of criminal activities have been unearthed with several officers under investigation and prosecution. Similar exercises are being extended to other Government departments, including Immigration, VID, CMED, the Registrar General’s Office."

February 6, 2007: As part of a much-anticipated cabinet reshuffle by President Robert Mugabe, Murerwa lost his cabinet post. This major cabinet reshuffle may be Mugabe’s last before his presidential term expires in 2008, although it is unclear wheter or not Mugabe will hand over the reins of a country he has led since 1980, and there is speculation he may move to extend his term. Some speculate that this reshuffle may be an attempt to blame others for Zimbabwe's economic failure, but this has not been proven.

This followed a public spat with Reserve bank Governor Gideon Gono over fiscal policies. According to the Zimbabwe Times, the Reserve Bank governor took the unprecedented step of attacking Murerwa in lengthy statements published in the government-owned press as advertisements. Mugabe appeared to side with Gono, leaving the minister exposed. Murerwa and Gono had apparently taken opposing views on the issue of payments made by the Reserve Bank for various services offered to the government of Zimbabwe.

In a brief telephone conversation with the Times, Murerwa said that he did not want to make any comments over the issue of his departure from cabinet. "I do not want to comment. Why should I" he asked before ending the conversation. It is thought that Muerwa may be keeping silent on the issue as he will be tapped to replace Stan Mudenge as Tertiary Education minister. Mudenge, from southern Zimbabwe, is apparently seriously ill and suffering from an undisclosed ailment.

[edit] Current and past positions

Minister of Finance - Government of Zimbabwe (26 Apr 2004 - 06 Feb 2007)
Minister of Finance - Government of Zimbabwe (Aug 2002 - Feb 2004)
Minister of International Trade and Technology - Government of Zimbabwe (2001 - 2002)
Minister of Higher Education and Technology - Government of Zimbabwe (2000 - 2001)
Minister of Finance - Government of Zimbabwe (1996 - 2000)
Minister of Industry and Commerce - Government of Zimbabwe (1995 - 1996)
Minister of Environment and Tourism - Government of Zimbabwe (1990 - 1995)
High Commissioner to the UK - Government of Zimbabwe (1984 - 1990)

Murerwa, Herbert M.

EDUCATION

1970, BA in Sociology, George Williams College, USA;

1972, Master's in Education, Harvard University, USA;

1978, Doctor of Education, Harvard University, USA.