Maravi

(TALKZIMBABWE) Comprehensive financial package on the cards: govt

Comprehensive financial package on the cards: govt
Ralph Mutema
Mon, 12 Jan 2009 03:03:00 +0000

THE Government of Zimbabwe will soon receive a massive injection of cash from “friendly countries” which will offset the current economic problems being faced by the country, according to sources in the ruling Zanu PF party.

The Permanent Secretary in the Ministry of Information and Publicity and Presidential Spokesman, George Charamba, made the revelation over the weekend.

He said the financial package will be a huge boost needed for the revival of the productive sectors of the economy and will be a sanctions-busting initiative.

“Clearly, the tables are turning and it won’t be long before we get a massive economic package from friendly countries to revitalise the economy,” Charamba told a local paper over the weekend.

Between US$5 billion and US$10 billion is needed to revive the Zimbabwean economy, according to economic analysts.

Charamba did not, however, reveal who these “friendly countries” are, but vowed that the financial package was “likely to stimulate rapid growth in the economy by bringing back industry, agriculture and mining to gear once more, creating massive employment and making food available in shops”, according to Sunday News.

Zimbabwe Humanitarian and Development Assistance Fund (ZHDAF)

However, Sadc on Thursday launched the Zimbabwe Humanitarian and Development Assistance Fund (ZHDAF) in Zimbabwe’s capital, Harare.

Dr Tomas Agushto Salamao, the Sadc Executive Secretary launched the initiative saying that this fund is not a parallel process to other humanitarian funds adding that the initiative is different from that of the United Nations and the European Union which are based on relief.

Dr Salamao said the Sadc initiative was divorced from current negotiations on the formation of the all inclusive Government by the ruling Zanu PF party and the two formations of the Movement for Democratic Change.

"A ruling was made for Sadc to provide humanitarian assistance to Zimbabwe and its people,” he said.

“There is no way the region can ignore Zimbabwe because of the impasse, so we will assist with agricultural inputs and the fight against the cholera outbreak," he added.

Dr Salamao said the Fund was aimed at helping the Zimbabwean people and communal farmers.

"The launch also coincided with the meeting to ensure that the distribution of inputs, that is, seed and fertilizers, is non-partisan and benefits all the people — especially communal farmers.”

He added that the initiative predicated on ‘regional solidarity’ and was a regional initiative meant to benefit the whole bloc.

"This is regional solidarity. When you are facing difficulties, you have to count on the solidarity of your brothers. We cannot fail in assisting Zimbabwe, that's the critical and most important thing," said Salamao.

Labels: ECONOMY, FOREX, SANCTIONS, TOMAZ SALOMAO

posted by MrK @ 5:49 AM