Biti begs for more cash from donors

Biti says the government would even soon revive the out-dated Salisbury/Pretoria arrangement which gave saw the Smith regime receiving funds from South Africa, during the days of the Unilateral Declaration of Independence (UDI).

“We want to revive the Pretoria/Salisbury agreement which gave the former Rhodesia funds from South Africa,” Biti said.

“We are asking for about $70 million South Africa Rands in cash for our economic recovery programme. We will also go to Botswana where we hope to get another $70 million.

Biti said this after the African Export-Import Bank (Afreximbank) signed a US$70 million Memorandum of Understanding (MOU) with Zimbabwe last week.

The document was signed by Minister Biti and the President of Afreximbank, Jean-Louis Ekra after the two-day EuroMoney Investment Conference. The event was attended by more than 300 businesspeople from all over the world notably South Africa, the UK and the USA.

Afreximbank said it supported Zimbabwe’s economic recovery programme and would continue to give in cash and “in kind” whenever it was possible. It urged the Government of National Unity (GNU) to continue with the economic recovery projects and allow citizens to enjoy the lifestyle they had become accustomed to during the “days of glory”.

Afreximbank gave cash-strapped Zimbabwe $70 million for its economic recovery programme under the new MOU signed in Harare between Biti and Ekra. “This facility is designed to impact on economic activities within and outside the urban areas, thereby facilitating a more balanced economic recovery across the country,” Ekra said.