Thursday, July 2, 2009

Zimbabwe Says China Is Giving It Loans — New York Times

JOHANNESBURG — Zimbabwe’s prime minister, Morgan Tsvangirai, said Tuesday that an official he had appointed had secured lines of credit worth $950 million from China, President Robert Mugabe’s longtime ally.
Mr. Mugabe’s party has mocked Mr. Tsvangirai for failing to bring home much aid from his three-week tour of the United States and Europe. Zimbabwe’s government — a virtually bankrupt contraption led by Mr. Mugabe and his rival, Mr. Tsvangirai — needs an estimated $8 billion to rebuild the country’s ruined economy.
The West has been leery of giving the government a large infusion of money until Mr. Mugabe stops the human rights abuses that have been a fixture of his 29 years in power. China, however, has maintained its close relationship with Zimbabwe as it has extended its financial ties to other nations in Africa.

No comments:

Post a Comment