Zimbabwe has been sitting on roughly 85 million dollars it yanked from government worker paychecks to cover microfinance loans, and that pile has been collecting dust for five months straight. CBZ affiliate Red Sphere Finance stopped issuing any new loans to civil servants after the government basically ghosted everyone, and word on the street says smaller lenders are shutting down left and right because they cannot float operations without those remittances coming through.
The paymaster who handles civil servant salaries claimed the holdup was some deliberate liquidity management trick rather than broke government syndrome, and he promised 150 microfinance outfits would get paid before the year wraps. Anonymous sources contradicted that narrative by pointing out that the administration cannot even scrape together bonus payments for December and might push that payout into next year, while subscriptions to pension funds and medical aid schemes are also backed up.
The paymaster who handles civil servant salaries claimed the holdup was some deliberate liquidity management trick rather than broke government syndrome, and he promised 150 microfinance outfits would get paid before the year wraps. Anonymous sources contradicted that narrative by pointing out that the administration cannot even scrape together bonus payments for December and might push that payout into next year, while subscriptions to pension funds and medical aid schemes are also backed up.
