Tuesday, 4 October 2016

CHINAMASA IN USA FOR WORLD BANK MEETINGS

Minister of Finance Patrick Chinamasa and central bank chief John Mangudya are in Washington to attend annual meetings of the World Bank and International Monetary Fund (IMF). 

Zimbabwe has been appealing for financial assistance as the country’s economy continues to decline due to lack of foreign direct investment and lines of credit from the Bretton Woods institutions, which it owes millions of dollars. 

But Chinamasa will return empty handed as the World Bank has already said it will not give Zimbabwe any lines of credit until it clears its arrears. In the meantime the government of President Mugabe is broke.

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