FOR HOW LONG WOULD ZIMBABWES BEGGING BOWL STAY EMPTY? Zimbabwe is learning a harsh lesson-- The IMF has decided Zimbabwe needs to repay its debt of $ 142 Billion to the IMF before borrowing more money. BBC NEWS By Russel Padmore,Business Reporter,World Service. This misadventure of Robert Mugabe and cronies is a great lesson to others in the Continent.Despite its Finance Minister Patrick Chinamas pleading holding out the customary begging bowl and promising to implement reforms,the IMF has refused further funding because Zimbabwes debt was a Stumbling block in unlocking fresh funding Gone are the days where there was an oversupply of capital to be thrown to At Africa.Times have change and IMF is now confronted with many challenges in the World and most especially Europe, with the bailout of its associates in the EUROZONE. While the Zimbabwes economy continue to regress painfully in contrast to its neighbors like South Africa, Mozambique,Zambia and Botswana.Which are now seen to be attracting a tremendous Amount of foreign capital through direct investments from the global corporate World and are experiencing great economic growth at this times. In our eyes as African,what do we think is holding Zimbabwe behind in this times and what solutions do we propose to bail it out. A Blessed Week To All Thanks
Posted on: Sun, 28 Sep 2014 19:00:16 +0000
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