{"id":14351,"date":"2012-09-07T03:52:39","date_gmt":"2012-09-07T01:52:39","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/cash-crunch-forces-zimbabwe-to-seek-regional-aid\/"},"modified":"2012-09-07T03:52:39","modified_gmt":"2012-09-07T01:52:39","slug":"cash-crunch-forces-zimbabwe-to-seek-regional-aid","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/cash-crunch-forces-zimbabwe-to-seek-regional-aid\/","title":{"rendered":"Cash crunch forces Zimbabwe to seek regional aid"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Economy remains depressed, Biti says<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Appeals for $150 mln from South Africa, Angola<\/p>\n<p><span><\/span><\/p>\n<p>* Seeking $350 mln Chinese loan to boost power output<\/p>\n<p><span><\/span><\/p>\n<p>By Nelson Banya<\/p>\n<p><span><\/span><\/p>\n<p>HARARE, Sept 6 (Reuters) &#8211; Zimbabwe is turning to South<br \/>\nAfrica and Angola for help in plugging a $400 million hole in<br \/>\nits budget, Finance Minister Tendai Biti said on Thursday,<br \/>\nlamenting a lack of foreign investment and aid from its<br \/>\ntraditional Western donors.<\/p>\n<p><span><\/span><\/p>\n<p>The southern African country&#8217;s economy is recovering under a<br \/>\ncoalition government formed in 2009 by President Robert Mugabe<br \/>\nand his rival, Prime Minister Morgan Tsvangirai, but is still<br \/>\nsuffering the hangover of a decade-long recession widely blamed<br \/>\non Mugabe policies such as the seizure of white-owned farms.<\/p>\n<p><span><\/span><\/p>\n<p>Biti, who slashed Zimbabwe&#8217;s 2012 GDP growth forecast last<br \/>\nmonth from 9.4 percent to 5.6 percent due to a poor harvest and<br \/>\nlack of donor funding, said Harare would seek at least $150<br \/>\nmillion from South Africa and Angola.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;I have secured an important appointment with South Africa&#8217;s<br \/>\nminister of finance two weeks from now,&#8221; he told a news<br \/>\nconference. &#8220;In this meeting we are going to make a request for<br \/>\nbudgetary support to the tune of $100 million.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Harare was also in advanced talks for a $50 million credit<br \/>\nline from oil-rich Angola, he said.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Economy remains depressed, Biti says * Appeals for $150 mln from South Africa, Angola * Seeking $350 mln Chinese loan to boost power output By Nelson Banya HARARE, Sept 6 (Reuters) &#8211; Zimbabwe is turning to South Africa and Angola for help in plugging a $400 million hole in its budget, Finance Minister Tendai [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-14351","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=14351"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14351\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}