Sunday, March 8, 2009

Zimbabwe Reported to Need $5 Billion to Revive Shattered Economy

Posted by admin on Mar 6th, 2009 and filed under Africa. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry from your site
Botswana Finance and Development Planning Minister Baledzi Gaolathe on Friday in Gaborone said that neighboring Zimbabwe will need $5 billion to reconstruction the country’s shattered economy and bring down its skyrocketed inflation.
He said during a meeting of finance ministers from the Southern African region, they discussed how to move forward in helping Zimbabwe get back on its feet once again after years of a downward spiral in its economy.
“We expect more consultations to happen in the next coming months, Gaolathe said.
He recalled that Zimbabwe, during a meeting of Southern African finance ministers last week in Cape Town, South Africa, it informed the forum that it needed $2 billion dollars in immediate aid.
The two billion dollars is needed for short term needs from now until the end of the year. The country has pleaded to the Southern African region as well as the international community for the assistance,” he said.
The unity government of former opposition leader and Prime Minister Morgan Tsvangirai and President Robert Mugabe will rely heavily on donors to tame inflation, the highest in the world, and revive the once prosperous economy.
Source African Press Agency

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