Jump to content
House Price Crash Forum
Sign in to follow this  
interestrateripoff

Growth In Zimbabwe 'may Reach 6%'

Recommended Posts

http://news.bbc.co.uk/1/hi/business/8098198.stm

Zimbabwe's economy could grow by between 4% and 6% this year, according to the country's finance minister.

Tendai Biti said steps would be taken to restrict central bank activities such as borrowing.

Separately, US President Barack Obama pledged $73m (£44m) in aid to Zimbabwe, after meeting Prime Minister Morgan Tsvangirai at the White House.

The Zimbabwean economy has been battered by years of hyperinflation and economic contraction.

Mr Tsvangirai is on a tour of the US and Europe trying to drum up financial support.

President Obama praised Mr Tsvangirai's efforts in Zimbabwe, saying "we've seen progress from the prime minister".

But he added that the aid would not be going to the government but directly to the people of Zimbabawe, as the US still had concerns about "consolidating democracy, human rights and rule of law" in the country.

Growth predictions

Finance Minister Tendai Biti was speaking at the World Economic Forum on Africa in Cape Town.

"I think we will be able to achieve a growth rate of at least 6%, although conservatively it will be 4% in 2009," he told journalists.

The fact that the government was able to address Zimbabwe's economic problems "without any cent from anyone", he added, showed that "we can do it with or without huge financial resources".

Zimbabwe's economy has been shrinking for years. It contracted by 6.1% in 2007, according to the International Monetary Fund.

The power-sharing government of President Robert Mugabe and Prime Minister Tsvangirai - sworn in in February - has said the country needs about $10bn (£6bn) to stabilise its economy.

Foreign donors have said they will only consider aid once Zimbabwe's government creates a democracy.

Printing money is clearly the way to success.

Share this post


Link to post
Share on other sites

In other news, the US will never take Baghdad, says Saddam.

Share this post


Link to post
Share on other sites
I've said it all along: Zimbabwe is ahead of the curve in everything - economics, politics...

:lol:

But the UK is catching up fast!

:o

Foreign donors have said they will only consider aid once Zimbabwe's government creates a democracy

Will this apply to the UK too?

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   295 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.