No boxes of cash from China, Mugabe

via No boxes of cash from China, Mugabe 11 September 2014

FACED with criticism that his hopes for a US$4 billion economic bailout were disappointed in China, President Robert Mugabe said Thursday that those making the claim should understand that no country handed out boxes of cash gratis.

Mugabe’s US$27 billion ZimAsset economic blueprint remains stalled due to lack of funding and, more immediately, the government reportedly needs a couple of billions or more to fire the country’s faltering economy.

Ahead of his trip to Beijing, officials at the Chinese embassy in Harare had indicated that negotiations were ongoing regarding a bailout with the sticking point said to be the security for the facility.

And possibly explaing why the bailout deal failed, Finance minister Patrick Chinamasa said he was given a hard-time in China with Beijing expressing deep concern over Harare’s failure to repay previous loans.

“We have been borrowing from the Chinese financial institutions and as soon as we borrowed, we never went back even to tell them that we had some challenges which prevented us from honouring our commitment,” said the minister, who has visited Beijing three times this year.

“So they wondered what kind of debtors we were … I was confronted of course with crimes of omission and commission; you have not been honouring these debts and so on.”

However, addressing chiefs in Gweru on Thursday Mugabe said although he did not return with bucket-loads of money he secured firm commitments to support infrastructure projects that would form the basis of the country’s economic recovery.

“Our visit to China was very, very productive,” he said.

“These claims that we should have come back with boxes of money … I’m not aware of those negotiations and that is now how governments operate.

“Instead, what happens is you agree with another country that you have projects which require funding either in the form of soft loans or they can come in as joint venture partners.

“So the country you’re dealing with comes in as a partner. No one just gives you money.

“Here and there you get a grant, yes we did get a grant, a small grant but we had commitments.”

The veteran leader said he secured funding for key infrastructure projects including a massive revamp of the country’s roads network.

“They are going to do roads . . . yes we are going to have new dual carriageways. . . Beitbridge to Harare, Harare to Mutare and so on that is what we would want to see,” he said.

Other projects had also been agreed in agriculture, diamonds processing and the construction of a new Parliament building.

“Those projects can employ hundreds of our young people from school boys and girls,” he said.

“(Regarding) Parliament, they say it’s a grant they are going to give … you don’t pay anything for that.

“They also built a new parliament for Malawi, but of course ours would be much bigger, it’s a beauty an absolute beauty with the gadgets very modern.

“So these projects will be coming. You will be seeing them, but off course things don’t just overnight become shining.”

Mugabe claimed that western countries were envious of Harare’s ties with China and mow making moves to repair damaged relations.

“I can assure you that Britain, Europe and America are already starting to get worried that they have been replaced by China.” He said.

“Now that are trying to improve relations but we’re not in a hurry.”

COMMENTS

WORDPRESS: 10
  • comment-avatar
    tapiwa 7 years ago

    Still day dreaming in his old age all these the countries assumed to be envious see is how the Chinese are abusing Zimbabweans and looting it building sub-standard structures. When was the parliament he is talking about built and it still stands today but I believe the stadium was built by a particular country not so many years ago and immediately required repairs. If anyone know who built it maybe they an enlighten me too.

    • comment-avatar
      Petal 7 years ago

      The chinese are abusing the africans on the whole of the continent . Speak to the motswanas they will tell you about the shoddy work they have done in Botswana

  • comment-avatar
    sillywho? 7 years ago

    I just thought of a way for Zimbabwe to get a few bucks in its fiscus to permit malfeasance and looting to resume and normalize.

    The way to do it is that the U.S. Defense Department is seeking the lease of a site in Africa of probably about 25 square kilometers minimum for a base. It would be leased in perpetuity and of course there must be a road to the sea in Mozambique. (A way to get the read to Beria (sp) repaired and maintained) To get the ball rolling, someone in Salisbury should speak to the u.s. ambassador.

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    Hey, what happened to my post? In it I made a highly intelligent argument about how Mugabe is like a prostitute who gives her pimp whatever he wants. In this case China is the pimp.

    Mr. Moderator, where is my original post?

  • comment-avatar
    Petal 7 years ago

    someone should ask the geriatric why he is still getting treatment in far away places like Singapore where is the money coming from? Find the loot

  • comment-avatar

    Im now convinced Old Mugabe is mentally insane. There is no other explanation to account for such drivel.The Chinese coming to build us a Parliament “BIGGER THAN THE MALAWIAN ONE” honestly? and we are supposed to be so besides ourselves with ecstacy? and our educated young men and women working as general hands building roads in Zim???

    what is this idiot talking about. Is that really what SOVEREIGNITY is all about? I dont have any words

  • comment-avatar

    kkkk my prez is now a grand dad for sure, somebody compared him to Lobengula who gave the country away in exchange for a mirror. This grand father wants a parliament while Zimbos are suffering in SA doing odd jobs. We don’t need a parlly but jobs please, grand pa.

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    The day Zanu will go, China will regret the day it decided to collude with Mugabe and his Zanu against the people of Zimbabwe.
    We will never satisfy their agreements and the future Zim government shouldn’t be obliged to honour such ill agreements. In law when somebody is mental unstable, such a person is relieve of certain rights such as entering into contractual agreements hence i am flummoxed by these conniving Chines who continue to sign contracts with this insane Mugabe on our behalf. I am very agree and my blood pressure is very high. Matibili must go please, enough damage has been done rise amai Mujuru and let sanity prevail in my beloved father land

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    Sonofngwazi 7 years ago

    SIMBA SAID IT ALL, HE IS INCOMPETENT,ALWAYS BLAMING OTHERS FOR HIS OWN FAULTS.
    TANETA

  • comment-avatar
    Tafadzwa 7 years ago

    We Zimbabweans should take the blame for allowing this madman to lead us. Clearly, Mugabe’s Zimbabwe is a monumental failure. Now Mugabe is boasting that it is him, not in a hurry to repair relations with the west. He should stop blaming sanctions then, since he is happy to maintain the sanctions so as to make it an excuse for his failure