{"id":65406,"date":"2022-09-01T19:01:23","date_gmt":"2022-09-01T17:01:23","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/biti-says-trillions-of-dollars-being-paid-to-cartels-constructing-roads-driving-inflation"},"modified":"2022-09-01T21:28:44","modified_gmt":"2022-09-01T19:28:44","slug":"biti-says-trillions-of-dollars-being-paid-to-cartels-constructing-roads-driving-inflation","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/biti-says-trillions-of-dollars-being-paid-to-cartels-constructing-roads-driving-inflation","title":{"rendered":"Biti Says \u201cTrillions Of Dollars Being Paid To Cartels Constructing Roads\u201d Driving Inflation"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>Former Finance and Economic Development Minister during the Government of National Unity (GNU), Tendai Biti Wednesday said it was known that \u201ctrillions of dollars being paid in cartels constructing roads\u201d were driving inflation.<\/p>\n

He told parliamentarians on Wednesday that the printing of Zimbabwe dollars to pay cartels in the construction industry was fuelling inflation. NewZimbabwe.com cites him as saying:<\/p>\n

We know what is driving inflation and, as he knows, it is the trillions of dollars being paid to cartels constructing roads and cartels that are coming from the auction floor.<\/p>\n

The Harare East legislator Tendai Biti told Finance Minister Mthuli Ncube Wednesday to stop pretending to be ignorant about the causes of hyperinflation in the country.<\/p>\n

Last month the government suspended payments to contractors with Finance Ministry permanent secretary George Guvamatanga accusing the companies of submitting invoices of cash for goods and services using parallel market rates.<\/p>\n

The US dollar has been changing hands for between Z$700 and Z$800, more than 40% higher than the official Reserve Bank of Zimbabwe (RBZ) rate.<\/p>\n

Inflation in the Southern African country has been going up in recent years with authorities struggling to get a sustainable solution.<\/p>\n

The Zimbabwe National Statistics Agency (ZIMSTAT) last week reported that the country\u2019s inflation rate had eased to 106.3 % from 257%.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. Former Finance and Economic Development Minister during the Government of National Unity (GNU), Tendai Biti Wednesday said it was known that \u201ctrillions of dollars being paid in cartels constructing roads\u201d were driving inflation. He told parliamentarians on Wednesday that the printing of Zimbabwe dollars to pay cartels in the construction industry was […]<\/p>\n","protected":false},"author":84,"featured_media":65405,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,8,35,12,15],"tags":[1493,2189,2057,807,1164,19],"class_list":{"0":"post-65406","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-head-lines","9":"category-homepage-english","10":"category-policy","11":"category-twitter","12":"tag-africa-press","13":"tag-africa-press-zimbabwe-2","14":"tag-inflation-in-zimbabwe","15":"tag-mthuli-ncube","16":"tag-tendai-biti","17":"tag-zimbabwe"},"yoast_head":"\nBiti Says \u201cTrillions Of Dollars Being Paid To Cartels Constructing Roads\u201d Driving Inflation - zimbabwe<\/title>\n<meta name=\"description\" content=\"Former Finance and Economic Development Minister during the Government of National Unity (GNU), Tendai Biti Wednesday sa ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/biti-says-trillions-of-dollars-being-paid-to-cartels-constructing-roads-driving-inflation\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Biti Says \u201cTrillions Of Dollars Being Paid To Cartels Constructing Roads\u201d Driving Inflation\" \/>\n<meta property=\"og:description\" content=\"Former Finance and Economic Development Minister during the Government of National Unity (GNU), Tendai Biti Wednesday sa ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/biti-says-trillions-of-dollars-being-paid-to-cartels-constructing-roads-driving-inflation\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-01T17:01:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-01T19:28:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/09\/postQueueImg_12.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"479\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/biti-says-trillions-of-dollars-being-paid-to-cartels-constructing-roads-driving-inflation\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/biti-says-trillions-of-dollars-being-paid-to-cartels-constructing-roads-driving-inflation\",\"name\":\"Biti Says \u201cTrillions Of Dollars Being Paid To Cartels Constructing Roads\u201d Driving Inflation - 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