China, which has described itself as an all-weather friend of Zimbabwe, today showed Harare that business is business. Chinese ambassador to Zimbabwe Lin Lin said Beijing is prepared to arrange a financial package for Zimbabwe’s economic recovery programme but will need collateral in the form of Zimbabwe’s mineral resources. “My government is committed to give our support to Zimbabwe’s economic recovery. What I can say now is that the two sides are carrying out discussions on lines of credit provided by Chinese financial institutions as proposed by Zimbabwean side using your minerals as kind of security. We are looking forward to reach a kind of an agreement on that issue and I hope sometime this year.” Zimbabwe, on the other hand, has indicated that it will continue to sell its diamonds through the Dubai Diamond Exchange though proceeds from the March sale have not yet been remitted. Less than half the nearly US$30 million realised from the auction has so far been paid.
(38 VIEWS)
A friend who knows about my legal battle with Zimbabwe’s richest man, Strive Masiyiwa, way…
Britain says amendment of the Zimbabwe constitution is a sovereign, legislative matter for Zimbabwe to…
It is now 47 years since I wrote the short story below for a South…
Zimbabwe has released its 2026 monetary policy statement in which it seeks to stabilise its…
Far from it, on paper that is. Ignatius Chombo was one of the longest serving…
Zimbabwe on Thursday announced a ZiG290.9 billion budget with revenue expected to be ZiG287.6 billion,…