What Mthuli Ncube does can only be sustained if the president and all twenty something ministries are equally and unequivocally committed to fundamental and profound structural, political, monetary, public policy reforms, leadership renewal, and totally crushing corruption. In the absence of that commitment, any capital inflows (FDI, mega deals etc) will merely increase our indebtedness, but not our productivity and welfare.
The economy reacts the way it does because unlike us, it fully understands that no matter how theoretically sound and brilliant any macroeconomic policies the Minister of Finance comes up with, they are profoundly impacted by the decisions in other ministries.
It understands that the gathering and distribution responsibilities (mobilization, allocation, management and accounting for public resources) of the Ministry of Finance are not necessarily a production function.
It reacts the way it does because it knows what our leaders don’t want us to know. Because it knows the number of once productive farms that are now completely idle and in ruins, it can only respond positively if the Land Audit currently underway results in land being fully utilized and our best farmers working our best land so that agriculture can become the driver for our economic turnaround we know it can be.
It will respond positively if our government can demonstrate its unwavering commitment to restore and protect property rights, something that is not just the FinMin’s responsibility alone.
The economy knows who owns what at Chiadzwa, and the extent of the plunder there. It will respond positively if the Ministry of Mines can demonstrate that it no longer exists to preside over the pillaging of our mineral resources by foreign interests with government connections, and by people and entities loyal to the ruling party at the expense of the majority of Zimbabweans.
The economy knows who owns what and who is a front for who in the fuel industry. It will respond positively when the Ministry of Energy breaks the cartels that hold the nation to ransom as they enrich themselves.
The economy knows the truth that neither the government media nor the private press have the guts to dig into. While we can be fooled by the announcements by government about the amount of FDI that has flowed into the country since the coup and the recent election, the economy won’t be fooled.