News / National
Mugabe takes begging bowl to New York
21 Aug 2015 at 08:14hrs | Views
PRESIDENT Robert Mugabe has lined up a number of critical bilateral meetings with his purported "all-weather friends" when he goes for the United Nations General Assembly in New York next month as he seeks a financial rescue package in a bid to avoid a looming economic implosion.
This comes as Mugabe and his officials are planning to visit far-flung Japan to cultivate ties and seek help after failing to get any meaningful funding from Brics giants like China, Russia and South Africa.
"The president will travel to New York for the United Nations General Assembly next month and the idea is that he will have a number of bilateral meetings with top officials from friendly countries, particularly from Brics (Brazil, Russia, India, China and South Africa) aimed at securing investment and funding," said a senior government official.
"Although arrangements have not yet been finalised, there is also a plan to visit Japan to look for help. Government will also send a delegation to reciprocate a visit by French officials and business persons to the country, last month to attract much-needed investment."
Before travelling to Japan, however, officials say Harare would first host officials and a business delegation from the Asian giant, the world's third largest economy.
Since his controversial re-election in 2013, Mugabe has been to Brics countries which form an emerging powerful bloc of developing nations counter weighting the G7, a grouping of developed countries that includes the United States, Japan, Germany, Britain, France, Italy and Canada.
A government official said this week after failing to secure an economic rescue package as it has also become clear that multilateral lending institutions will not help out the country before it implements reforms and clears arrears, Mugabe and his officials are desperate to extend the begging bowl to any friendly country which can afford to help out.
Zimbabwe is grappling with a severe liquidity crunch and is saddled with an unsustainable US$10 billion debt overhang and arrears. The International Monetary Fund and other multilateral lenders have ruled out funding to Harare unless sit clears arrears first and embarks on a serious reform process.
This comes as Mugabe and his officials are planning to visit far-flung Japan to cultivate ties and seek help after failing to get any meaningful funding from Brics giants like China, Russia and South Africa.
"The president will travel to New York for the United Nations General Assembly next month and the idea is that he will have a number of bilateral meetings with top officials from friendly countries, particularly from Brics (Brazil, Russia, India, China and South Africa) aimed at securing investment and funding," said a senior government official.
"Although arrangements have not yet been finalised, there is also a plan to visit Japan to look for help. Government will also send a delegation to reciprocate a visit by French officials and business persons to the country, last month to attract much-needed investment."
Since his controversial re-election in 2013, Mugabe has been to Brics countries which form an emerging powerful bloc of developing nations counter weighting the G7, a grouping of developed countries that includes the United States, Japan, Germany, Britain, France, Italy and Canada.
A government official said this week after failing to secure an economic rescue package as it has also become clear that multilateral lending institutions will not help out the country before it implements reforms and clears arrears, Mugabe and his officials are desperate to extend the begging bowl to any friendly country which can afford to help out.
Zimbabwe is grappling with a severe liquidity crunch and is saddled with an unsustainable US$10 billion debt overhang and arrears. The International Monetary Fund and other multilateral lenders have ruled out funding to Harare unless sit clears arrears first and embarks on a serious reform process.
Source - Zimbabwe Independent
