Gideon Gono, former Zimbabwe Reserve Bank Manager, has justified his policy of printing trillions of Zimbabwe dollars from 2003 , saying he did it to save lives.

Gono said he is a thinker outside the box and did the right thing given the circumstances.

Indeginous Banks

Gono said the collapse of local indeginous banks was necessary because there was indiscipline. He said he never looked at the banks on the basis of colour. He said he was dealing with depositors funds and was doing what was neccesary to look after these funds.

Gono said there were a number of steps that needed to be taken before a bank was closed:

  1. Send inspectors
  2. Send Auditors
  3. Take report to ministry of finance
  4. Take report to Mugabe, who made the final decison to close the banks

Gono said Mugabe saved other banks that should have gone under.

Gono said the level of indiscipline that some of the bankers did should have made them land in jail. Gono said there are people who are in Zimbabwe who externalised money to SA, Botswana, DRC, Switzerland and so on.

Gono said these people then claimed that they were being persecuted.