Maravi

(TALKZIMBABWE) Sanctions should be prioritised

Sanctions should be prioritised
Sixpence Manyengavana - Opinion
Thu, 26 Nov 2009 12:17:00 +0000

DEAR EDITOR - The illegal sanctions imposed by the governments of the United States, the United Kingdom and the European Union on Zimbabwe are a thorny issue to us Zimbabweans.

To fellow Zimbabweans who are refusing to accept that the country was slapped with sanctions and to those who do not understand this sanctions issue, here is the real situation.

The Zimbabwe Democracy and Economic Recovery Act (Zidera) of 2001 that was enacted by the US Congress empowers the treasury secretary of the US to instruct the US executive director of each international financial institution to oppose and vote against any extension by the respective institution of any loan, credit or guarantee to the government of Zimbabwe.

The meaning of this piece of legislation means that all banks can refuse to extend credit and loans to our government. In fact banks shun any country that has been black-listed by the US legislation because if they engage in any commercial transaction with such countries, they will be penalized and will be excluded from the U.S. banking system.

Our government has not been able to borrow money from the Bretton Woods institutions since 2001. The sanctions are not imposed on individuals as claimed but on the entire country.

In light of this fact, I urge the negotiators who are looking into the issue of the so-called 'outstanding issues' to put the sanctions issue on top of their priority list so that the United States can repeal this inhumane legislation.
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Sixpence Manyengavana

Labels: SANCTIONS, ZDERA

posted by MrK @ 1:57 PM