Maravi

Mugabe mocks US over financial crisis

Mugabe mocks US over financial crisis
By George Chellah in Harare, Zimbabwe
Wednesday October 01, 2008 [04:00]

ZIMBABWEAN President Robert Mugabe has announced that he will appoint Cabinet by the end of this week, cautioning that an all inclusive government does not mean a change in policies.

And President Mugabe mocked the US over its current financial crisis that has seen large financial institutions such as giant insurer AIG facing a liquidity crunch.

Addressing ZANU-PF members at the Harare International Airport upon arrival from the 63rd Session of the United Nations General Assembly in New York on Monday, President Mugabe dismissed assertions that there was a deadlock between the political parties to the agreement.

President Mugabe explained that before he left Zimbabwe for New York, the negotiations on the allocation of Cabinet positions between the political parties had commenced.
He said only four government ministries were still to be allocated.
"We never said there was a deadlock, so we will be setting up government this week before the end of the week," President Mugabe said.

President Mugabe further cautioned that the inclusive government between the ruling ZANU-PF and the two MDC formations did not mean a change in policies.
"There shall never be a reversal of the land reform programme. Never, ever," President Mugabe said. "We will never allow those who left for South Africa and Australia to come back and take over (land)."

He said the government would never tolerate any external interference in its affairs.
"No outsiders will be allowed to follow partisan policies. Any country which does that declares itself an enemy of Zimbabwe. McGee US Ambassador to Zimbabwe must stop his blatant interference in the domestic matters of our country," he said.
President Mugabe called on the US and British administrations to review their policies towards Zimbabwe by removing the illegal sanctions.

He also challenged the opposition to start calling for the removal of illegal sanctions.
"We want the same noise now from them for the removal as there was when they blew trumpets for sanctions to be imposed," he said.

President Mugabe called for peaceful co-existence.
He further thanked former South African president Thabo Mbeki for facilitating the inter-party talks that led to the signing of the historic agreement.

"We regret that he is no longer President of South Africa, but that has to do with the people of South Africa. We cannot interfere in that. We want to assure him, the African National Congress and the people of South Africa that the people of Zimbabwe will continue to hold him as dear," President Mugabe said. "And indeed as one deserving an award from us for the good work he did for us. We will get together and think about what tribute to give him."

President Mugabe said he hoped the decision by the Reserve Bank of Zimbabwe (RBZ) to increase the daily withdrawal limit to Zim$20,000 would help people to access their money in banks.

He explained that while the US and their Western allies criticised RBZ Governor Dr Gideon Gono for printing money, Washington was planning to do the same to bail out the financial sector with US$700 billion.
" Washington was having to resort to quasi-fiscal decisions to rescue its economy following the financial crisis, President Mugabe said.

He said the West calls something wrong when others are doing it, but that when they themselves do it, they call it a rescue plan.

President Mugabe said the US was currently entangled in a financial crisis that has seen big financial institutions such as giant insurer AIG facing a liquidity crunch.

Labels: FINANCIAL CRISIS, MUGABE

posted by MrK @ 4:14 AM