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Africans give $400m to Zimbabwe | Africans give $400m to Zimbabwe |
(about 2 hours later) | |
Zimbabwe has received $400m (£270m) in credit from African governments, says Finance Minister Tendai Biti. | Zimbabwe has received $400m (£270m) in credit from African governments, says Finance Minister Tendai Biti. |
The funds are aimed at helping pay civil servants and regenerating the country's economy, he said. | The funds are aimed at helping pay civil servants and regenerating the country's economy, he said. |
Botswana provided $70m (£47m) and South Africa $50m (£34m), with the rest coming from the Common Market for Eastern and Southern Africa. | Botswana provided $70m (£47m) and South Africa $50m (£34m), with the rest coming from the Common Market for Eastern and Southern Africa. |
Mr Biti made the remarks during a visit to London, where he is looking for further funding. | Mr Biti made the remarks during a visit to London, where he is looking for further funding. |
A unity government formed by rivals President Robert Mugabe and Prime Minister Morgan Tsvangirai has appealed for billions of dollars from the West. | A unity government formed by rivals President Robert Mugabe and Prime Minister Morgan Tsvangirai has appealed for billions of dollars from the West. |
Mr Biti told the BBC on Thursday that Zimbabwe would actually need about $45bn (£30bn) to revive its economy over the next five years, according to estimates by the International Monetary Fund. | Mr Biti told the BBC on Thursday that Zimbabwe would actually need about $45bn (£30bn) to revive its economy over the next five years, according to estimates by the International Monetary Fund. |
Western donors have called for real proof of power sharing and the restoration of law and order before they open their wallets. | Western donors have called for real proof of power sharing and the restoration of law and order before they open their wallets. |
Human Rights Watch said on Wednesday donors should withhold development aid until Zimbabwe halts a fresh wave of invasions of farms and frees opposition and human rights activists. | |
Mr Biti, a senior official with Mr Tsvangirai's Movement for Democratic Change (MDC), said there was a danger of the international community believing "Mugabe cannot be trusted and that he is taking the MDC for a ride", reported Reuters news agency. | Mr Biti, a senior official with Mr Tsvangirai's Movement for Democratic Change (MDC), said there was a danger of the international community believing "Mugabe cannot be trusted and that he is taking the MDC for a ride", reported Reuters news agency. |
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