News / National
Mnangagwa returns home without the $1.5bn rescue package
06 Apr 2018 at 11:33hrs | Views
President Mnangagwa returns home from China tomorrow without the $1.5 billion liquidity rescue package, which government desperately needs, although he managed to secure funding for infrastructural projects and elevated relations between the two countries to a higher strategic level.
Sources close to the Chinese embassy said during his visit. Mnangagwa clearly learnt that China is not the proverbial Santa Claus and that everything which Zimbabwe gets must be on the basis of commercial arrangement and sustained strategic engagement for mutual benefit.
However, Mnangagwa's bag was not completely empty when he left as he received the usual gifts given to visiting African head of state by China. Although it is not clear how much he got, China usually gives out a token of between $20 - 30 million to visiting African leaders, which they are free to use at their discretion.
On top of Mnangagwa's agenda on his visit was the financial bailout. This comes at a time government is desperate for funds to ease the liquidity crunch and cash shortages gripping the economy.
Mnangagwa also wanted acceptance and to legitimise his leadership as well as to comment international relations. This was Mnangagwa's first state visit outside Africa since seizing power in November last year through a military coup.
The government has always considered China as its "all-weather friend." The relationship dates back to the liberation struggle, where the Asian nation assisted Zimbabwe with weapons and provided training to many cadres, including Mnangagwa.
Sources close to the Chinese embassy said during his visit. Mnangagwa clearly learnt that China is not the proverbial Santa Claus and that everything which Zimbabwe gets must be on the basis of commercial arrangement and sustained strategic engagement for mutual benefit.
However, Mnangagwa's bag was not completely empty when he left as he received the usual gifts given to visiting African head of state by China. Although it is not clear how much he got, China usually gives out a token of between $20 - 30 million to visiting African leaders, which they are free to use at their discretion.
On top of Mnangagwa's agenda on his visit was the financial bailout. This comes at a time government is desperate for funds to ease the liquidity crunch and cash shortages gripping the economy.
Mnangagwa also wanted acceptance and to legitimise his leadership as well as to comment international relations. This was Mnangagwa's first state visit outside Africa since seizing power in November last year through a military coup.
The government has always considered China as its "all-weather friend." The relationship dates back to the liberation struggle, where the Asian nation assisted Zimbabwe with weapons and provided training to many cadres, including Mnangagwa.
Source - the independent
