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Victoria Ruzvidzo In Focus
As he touched down from the Democratic Republic of Congo on Wednesday, President Mnangagwa fired the warning shots to signal that the warning made to those that have externalised funds was no idle threat.

It was for real.

The deadline lapsed on Wednesday and the central bank is obviously ceased with the matter, they are doing the maths and compiling a list of those that complied and those that didn’t.

There could soon be a gnashing of teeth.

We are obviously spoiling for the fight between Government and those that did not comply, we are naturally persuaded by the fact that funds and properties must be returned home so the economy can benefit.

We have said challenges in our economy are a result of liquidity constraints that we face today.

The long queues at the banks and failure by depositors to access their funds as and when they need them, despite promises funds would be available on demand, are a result of an acute shortage of funds.

The re-emergence of the black market for bond notes and foreign currency emanates from the shortage of funds through formal channels.

Firms have admitted they source funds from this market hence the price hikes consumers have been subjected to.

Hospitals and clinics do not have enough medical drugs and equipment, while Zesa is always threatening blackouts and implementing serious load shedding because it does not have enough funds to purchase adequate power.

These are just a few examples of the consequences of an illiquid market.

Therefore, anyone found to be withholding even a dollar, has to understand the gravity of such choices.

There is a whole list of issues this economy has to contend with, hence no one sold be spared in this drive to bring all externalised funds home.

So, yes, we would want to see the culprits that have not played ball really roasting.

In life, one always has to face up to the consequences of their actions or inaction. Chickens have a way of coming home to roost.

President Mnangagwa is expected to have met Reserve Bank of Zimbabwe Governor Dr John Mangudya yesterday.

Details of the meeting had not yet emerged at the time of writing.

But the President once said the list of the culprits was very long, and one would hope that the list of those who complied is equally long.

But we have it on good authority that the response to the three-month moratorium has been encouraging.

We hope this will soon manifest in increased availability of foreign currency through formal channels.

It is believed that at least $3 billion had been externalised. This is no small change. The amount can change the entire economic complexion in no time.

Therefore, we want to believe that the bulk of those on the said list have heeded the call to return funds as part of their efforts to address some of the challenges in this county – the only place they call home.

The redress of this economy cannot be left in the hands of Government alone or its partners such as the private sector, but we all need to do the best we can to ensure results are achieved.

We have to right our wrongs where we can and also seek to build instead of destroying effort by others. The sum total of your actions is what makes the country what it is, and to create the Zimbabwe we want we should all sing from the same hymn book and be persuaded by the greater resolve of making our country tick again.

A redress of this economy goes beyond electioneering as some might presume, but its about our lives, our future and for posterity.

In his Monetary Policy Statement recently, Dr Mangudya said the apex bank was encouraged by the response to the President’s amnesty on the externalised foreign currency and assets.

We pray that this momentum was maintained right through to the deadline on Wednesday.

‘’The response to date demonstrates the willingness by corporates and individuals to comply with these arrangements,” said Dr Mangudya.

“Already, bank deposits have been increasing on account of funds being channelled into the formal system, as corporates and individuals take heed of the amnesty to repatriate externalised funds and/or deposit funds in the banking system.’’

Dr Mangudya said continued efforts needed to be made until every dime is back home.

In a story we carried yesterday, analysts said the law says those that do not return funds and assets will face up to 10 years in jail or be fined three times the amount owing or both.

This is heavy any day, hence we hope this alone serves as a deterrent to would- be offenders, while persuading those with outstanding funds to repatriate them before the long arm of the law catches up with them.

The central bank has laid out a number of initiatives to ease the foreign currency situations.

If these are augmented by repatriated funds, the better for our country. As alluded to earlier, the economy will perform better with more foreign currency injected.

Statistics show that Zimbabwe earned $5,6 billion in foreign currency receipts last year, up 1,4 percent on the 2016 figure of $5,5 billion.

International remittances amounted to $1,4 billion an 11 percent drop from $1,6 billion.

These figures fall far short of meeting Zimbabwe’s foreign currency requirements.

Our balance of payments position remains precarious, hence the need to account for every penny and step up efforts to generate and attract more foreign currency through Foreign Direct Investment and the re-engagement process requirements.

The Zimbabwe is open for business mantra is one that we should take seriously and ride on or redress the economy.

So far so good, the economy is headed in the right direction. President Mnangagwa’s 100 days have been very fruitful going by the achievements narrated.

At least $3 billion investment deals have already been sealed and this is a good sign.

The investor interest is very encouraging, let’s keep up the momentum.

This year the economy should reap good results. The 4,5 percent growth projection could be exceeded if we put our minds to it.

In God we trust