News / National
'Mnangagwa administration should be judged by its performance' - US
30 Dec 2017 at 11:25hrs | Views
Since the seizure by the Mugabe regime of thousands of white-owned commercial farms after 2000, Zimbabwe's GDP has almost halved and the banking system has endured a meltdown that saw inflation top out at 500 billion percent in 2008.
To kick-start growth, Mnangagwa will need to clear $1.8 billion of arrears with multilateral lenders such as the World Bank. He will also have to attract private investors.
"These things don't happen overnight, and they have to really show they will implement what they say they will do. That is key," said Christian Beddes, the Zimbabwe representative of the International Monetary Fund.
Britain's foreign secretary, Boris Johnson, told Reuters on Nov. 29 that Britain could extend a bridging loan to help Zimbabwe clear World Bank and African Development Bank arrears, but such support would depend on "democratic progress."
U.S. Ambassador Harry Thomas avoided the term "coup" to describe Mugabe's overthrow, referring to it as a "military intervention." Thomas said Mnangagwa's administration should be judged by its performance - most notably whether it manages to hold credible elections next year. He was speaking on Dec. 6, two days after the cabinet was sworn in.
China too is an interested party. It has significant investments and loans outstanding in Zimbabwe and long ties to Mugabe, Mnangagwa and Chiwenga.
In early November, after Mugabe had sacked Mnangagwa for plotting against him, Mnangagwa met Chiwenga in China, said two sources familiar with the general's movements.
Chiwenga also met Chinese Defence Minister Chang Wanquan, and the pair even discussed tactics to be used in the coup, according to two sources familiar with the talks.
Beijing did not respond to a request for comment. Its Foreign Ministry has previously described Chiwenga's visit as a "normal military exchange mutually agreed upon by China and Zimbabwe."
Speaking at a signing ceremony for the Harare airport loan in December, Chinese ambassador Huang Ping said China's government would "continue to support the Zimbabwean government in their economic development."
To kick-start growth, Mnangagwa will need to clear $1.8 billion of arrears with multilateral lenders such as the World Bank. He will also have to attract private investors.
"These things don't happen overnight, and they have to really show they will implement what they say they will do. That is key," said Christian Beddes, the Zimbabwe representative of the International Monetary Fund.
Britain's foreign secretary, Boris Johnson, told Reuters on Nov. 29 that Britain could extend a bridging loan to help Zimbabwe clear World Bank and African Development Bank arrears, but such support would depend on "democratic progress."
U.S. Ambassador Harry Thomas avoided the term "coup" to describe Mugabe's overthrow, referring to it as a "military intervention." Thomas said Mnangagwa's administration should be judged by its performance - most notably whether it manages to hold credible elections next year. He was speaking on Dec. 6, two days after the cabinet was sworn in.
China too is an interested party. It has significant investments and loans outstanding in Zimbabwe and long ties to Mugabe, Mnangagwa and Chiwenga.
In early November, after Mugabe had sacked Mnangagwa for plotting against him, Mnangagwa met Chiwenga in China, said two sources familiar with the general's movements.
Chiwenga also met Chinese Defence Minister Chang Wanquan, and the pair even discussed tactics to be used in the coup, according to two sources familiar with the talks.
Beijing did not respond to a request for comment. Its Foreign Ministry has previously described Chiwenga's visit as a "normal military exchange mutually agreed upon by China and Zimbabwe."
Speaking at a signing ceremony for the Harare airport loan in December, Chinese ambassador Huang Ping said China's government would "continue to support the Zimbabwean government in their economic development."
Source - Reuters
