The Observer - 9 March 2014 - 13
Zimbabwe, US not talking: Chinamasa
New Ziana
FINANCE Minister Patrick Chinamasa
has revealed that relations between Zimbabwe
and the United States are severely strained to
the extent that the both countries are “not
talking”.
Chinamasa, who was responding in
Parliament to a question on whether the
government was negotiating with the US to
improve the availability and accessibility of
US dollars in the country, said “no talks were
taking place between the two governments”.
Zimbabwe dollarised its economy in
2009 through the adoption of a basket of
currencies with the US dollar being most
commonly used.
“The US has imposed sanctions against
Zimbabwe. We are not both politically and
economically on talking terms. We cannot
talk to them about economic issues when they
imposed sanctions on us,” Chinamasa said.
The US slapped Zimbabwe with an
embargo over a decade ago citing alleged
rights abuses and election fraud.
President Mugabe however believes the
country was being punished for its land
reform programme which saw large tracts
of prime agricultural land taken from the
white minority and redistributed to the black
majority.
Chinamasa said that liquidity constraints
which the economy continued to face would
persist until programmes were implemented
to improve the situation.
The liquidity crunch has grossly impacted
on economic recovery, as industries struggle
to improve production while product demand
is depressed due to low disposable income.
He said Zimbabwe could only improve its
situation through borrowing, foreign direct
investment, lines of credit and boosting its
exports.
ZSE edges
higher on
Zimplow
gains
Lifting of sanctions by the European Union (EU)
National Association of Non Governmental Organisations (NANGO) would like to welcome
and congratulate the Government of Zimbabwe and the EU for reducing their differences
through engaging each other, resulting in the EU suspending most of the remaining
restrictive measures against Zimbabwe and the resumption of a development relationship
with Zimbabwe commencing 1 November 2014. NANGO hopes the government and the EU
will further engage each other and work towards the removal of the remaining few
measures to facilitate the full development relationship between Zimbabwean people and
the EU.
Since the July 31, 2013 harmonized elections, NANGO has constantly advocated and called
The Source
HARARE– Farm implements manufacturer Zimplow dominated the Zimbabwe Stock Exchange’s
Friday session with 86.4 million shares trading for
$2.2 million as the market edged higher by 3.2 points
to close the week 188.93 points.
Total turnover for the day reached $3.5 million,
buoyed by Zimplow as well as Econet and Delta
which had trades worth $697,000 and $605,000 respectively.
Zimplow, which released its full year financials on
Wednesday, saw its share price rise by 25 percent to
2.50 cents. Econet gained 0.85 cents to 67 cents but
market mover Delta was flat at 122.60 cents.
Dairibord went up 0.89 cents to 13.89 cents, while
First Mutual scrapped a 0.05 cents increase to close
at 10.25 cents.
There were no negative trades in both the industrials
and resources counters.
On a weekly basis, the industrial index dropped 0.52
points and turnover improved to $9.4 million compared to the $4.2 million the previous week.
The mining index added 0.70 points on Friday to
close at 36.34 points, following a one cent gain in
Hwange to six cents.
Week on week, the index lost 4.88 points after
Hwange shed 40 percent of its share price.■
for the removal of restrictive measures. NANGO believes the restrictive measures were not
helping anyone but hurting ordinary Zimbabwean and hindering meaningful development
for the Zimbabwean citizens
The EU first imposed sanctions on Zimbabwe in 2002, protesting human rights abuses and
violations of democracy under President Mugabe’s rule, and have been gradually eased in
the last few years in an effort to encourage and influence political reform by the
government. NANGO therefore calls for further efforts by the government to continue
improving its track record on the said issues, and work towards complete eradication of all
the social ills that are of concern. NANGO believes cordial and warm bilateral relationship
between the EU and Zimbabwe would be beneficial to both parties.
For more information and comments on this contact the NANGO National Chairperson, Mr
Paul Juru
National Association of Non Governmental Organisations (NANGO)
5 Meredith Drive, Eastlea,
Harare, Zimbabwe
Tel: 708761, 794973
Email: [email protected]
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