HARARE – The government of Zimbabwe has reiterated its commitment to treating remittances as “free funds,” with no plans to alter their status, according to George Guvamatanga, Secretary for Finance, Economic Development, and Investment Promotion.
During a recent Zimbabwe Economic Society and Friedrich-Ebert Stiftung (ZES/FES) Breakfast Meeting focused on the Mid-Term Fiscal Policy review, Guvamatanga clarified the government’s position on remittances and other funds classified as “free funds.” These include funds from NGOs, diplomatic mission salaries, and other similar uses.
“For years, remittances in this country have been treated as free funds. It is your money, given to you in the form you want, and you use it as you please. The government has no intention whatsoever to change that position,” Guvamatanga stated. “We have no intention whatsoever to tamper with anything called free funds, and that is the government’s official position.”
Guvamatanga’s remarks were made in response to recent speculation that the Reserve Bank of Zimbabwe was considering measures to bring remittances into the formal banking system. He emphasized that any such move would cause significant and unnecessary disruption in the market, reaffirming that “free funds will remain free.”
This statement aims to reassure citizens and stakeholders that the government will continue its current approach to handling remittances, allowing recipients to manage their funds as they see fit.