Govt pays $134m to former white farmers, $1 billion needed to compensate other farmers
Posted by Maveriq | 21 Jul, 2017 | Business |
On Thursday, Minister of Finance and Economic Development Patrick Chinamasa revealed that government has so far paid out $134 million as compensation to former white farmers who lost land during the government’s fast track land reform programme. It is estimated that the government needs around $1 billion to compensate at least 4 500 former white commercial farmers. The International Monetary Fund has made it a condition for Zimbabwe to compensate the white farmers who lost their properties in order to be eligible for funding from international institutions. Speaking at that budget review on Thursday, Chinamasa said:
On account of operations and maintenance for ministries and government departments, $220 million went towards recapitalization of our public enterprises, $134 million went towards the compensation of former farmers