Desperate Mugabe govt begs for $1.2 billion

The government taking its begging bowl to Russia and Malaysia in search of a bailout to halt economic implosion, is making frantic last-minute efforts to mobilize US$1.2 billion out of the US41.8 billion required to settle arrears to International financial institutions as the Lima Plan falls to disarray.

Time is running out for the debt-ridden government to settle its arrears to preferred international financiers.

It has since emerged that Zimbabwe's arrears clearance strategy is now dead in the water due to a powerful lobby against it on the domestic and international fronts.