Maravi

(TALKZIMBABWE) Mugabe attacks US rescue plan

Mugabe attacks US rescue plan
Nancy Pasipanodya
Tue, 30 Sep 2008 01:18:00 +0000

PRESIDENT Robert Mugabe has attacked the United States and Britain for adopting economic measures that are the same as those adopted by Reserve Bank Governor, Dr. Gideon Gono, to deal with the current global financial crisis.

Speaking at an impromptu press conference yesterday morning at Harare International Airport, President Mugabe said while the US and other Western countries criticized Dr Gono for printing money, Washington was planning to do the same to bail out the financial sector with US$700 billion.

The US was currently entangled in a financial crisis that has seen big financial institutions such as giant insurer AIG facing a liquidity crunch and the sub-prime mortgage market crush.

President Mugabe said that the quasi-fiscal decisions being adopted by the US administration to rescue its economy were comparable to the policies followed by Dr Gono who had to find ways of dealing with the freezing of credit lines to Zimbabwe by international lenders. He said the confidence that has been lost by Americans is a reminder of the confidence lost in Zimbabwe due to the illegal sanctions imposed on the country.

He said that what the US called a rescue plan was exactly what they called interference in Zimbabwe adding that such hypocrisy of Western countries needed to be exposed.

Labels: FINANCIAL CRISIS, GIDEON GONO, HYPOCRISY, MUGABE

posted by MrK @ 4:10 AM