ZIMBABWE TURNS TO CHINA FOR $950M CREDIT LINE
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The coalition government in Harare is discussing a credit line of almost $1bn with China, after Morgan Tsvangirai, Zimbabwe’s prime minister, secured less funding than had been hoped during a three-week trip to Europe and the US.
Mr Tsvangirai told a press conference in Harare yesterday that Tendai Biti, his finance minister, had negotiated a $950m deal, although an official at the Chinese embassy said the arrangement was “still under discussion”.
News of the potentially significant Chinese support coincided with a visit to Beijing by a delegation from Robert Mugabe’s Zanu-PF party, which has been sharing power since February with Mr Tsvangirai’s Movement for Democratic Change.
Mr Mugabe, the president, last week derided Mr Tsvangirai’s mission as a failure, and said he had sent his own party delegation led by Emmerson Mnangagwa, the defence minister, to east Asia and Russia.
Western donors are insisting on progress by the government in guaranteeing human rights and restoring the rule of law, and are seeking resolution of Zimbabwe’s long-standing ex- ternal debt arrears before committing themselves.
China appears more willing to step up its long-term interest in Zimbabwe. Only last week, Yuan Nansheng, Beijing’s outgoing ambassador to Harare, said a growing number of Chinese companies were looking at opportunities there.
“I have great confidence in the future of Zimbabwe. I think since the establishment of the inclusive government, the situation . . .is getting better and better, step by step,” said Mr Yuan.
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