ZIMBABWE'S central bank governor has admitted that he took hard currency from the bank accounts of private businesses and foreign aid groups without permission, saying he was trying to keep his country's cash-strapped ministries running.
In a statement that would be unthinkable coming from most central banks, Reserve Bank governor Gideon Gono appeared to be issuing a plea to keep his job in the face of growing criticism.
Mr Gono said it was time "to let bygones be bygones" now tha
t Zimbabwe has a new coalition government dedicated to reversing its economic decline.
The banker said he gave the money he took from the hard currency accounts as loans to various ministries, and those private accounts would be reimbursed when the ministries repaid the loans. He said the bank's efforts "sustained the country" in its hour of need.
His statement showed the practice was widespread. It was first hinted at last year, when the aid agency Global Fund threatened to cut funds to Zimbabwe for fighting disease unless money taken from its account was returned. The bank returned $5 million to the agency.
In the past two years, Mr Gono has also slashed 25 zeros from the local currency, printed more local money without back-up reserves and distributed farm equipment to many in President Robert Mugabe's party who were given land seized from whites.
Mr Gono said the criticism of his office had reached "ridiculous dimensions".
Attacks on Mr Gono have stepped up in recent days after he offered about 50 used cars to new MPs from both Robert Mugabe's party and its rival, Morgan Tsvangirai's Movement for Democratic Change.
The full article contains 281 words and appears in The Scotsman newspaper.
