{"id":9172,"date":"2012-03-22T03:23:58","date_gmt":"2012-03-22T01:23:58","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/zimbabwe-says-plans-100-mln-infrastructure-bond\/"},"modified":"2012-03-22T03:23:58","modified_gmt":"2012-03-22T01:23:58","slug":"zimbabwe-says-plans-100-mln-infrastructure-bond","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/zimbabwe-says-plans-100-mln-infrastructure-bond\/","title":{"rendered":"Zimbabwe says plans $100 mln infrastructure bond"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">HARARE, March 21<\/span> (Reuters) &#8211; Zimbabwe plans to float a $100<br \/>\nmillion bond to rebuild its dilapidated infrastructure as the<br \/>\ncountry struggles to attract foreign investment, the finance<br \/>\nminister said on Wednesday.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Zimbabwe&#8217;s infrastructure, such as its roads, railways, dams<br \/>\nand power plants, has been starved of finance due to a decade of<br \/>\neconomic collapse, which eased somewhat with the formation of a<br \/>\npower-sharing government in 2009.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Very soon we are going to issue a $100 million<br \/>\ninfrastructure bond through our financial institutions,&#8221; Finance<br \/>\nMinister Tendai Biti told an investor conference in Harare.<\/p>\n<p><span><\/span><\/p>\n<p>He give no further details.<\/p>\n<p><span><\/span><\/p>\n<p>Zimbabwe has been using the U.S. dollar since 2009 when the<br \/>\ncountry abandoned the Zimbabwean dollar after inflation reached<br \/>\n500 billion percent.<\/p>\n<p><span><\/span><\/p>\n<p>A coalition government formed between political rivals<br \/>\nPresident Robert Mugabe and Prime Minister Morgan Tsvangirai has<br \/>\nmanaged to stabilise the economy but the country faces a cash<br \/>\ncrunch as investors stay on the sidelines.<\/p>\n<p><span><\/span><\/p>\n<p>Biti, who is a member of Tsvangirai&#8217;s opposition Movement<br \/>\nfor Democratic Change (MDC), said last week the government faced<br \/>\na shutdown because projected revenue from the diamond industry<br \/>\nhad failed to come through.<\/p>\n<p><span><\/span><\/p>\n<p>Investors have been unnerved by the government&#8217;s drive to<br \/>\nforce foreign-owned mining companies to surrender majority<br \/>\nstakes to blacks under an economic empowerment programme.<\/p>\n<p><span><\/span><\/p>\n<p>At the conference, Biti sought to allay investor fears,<br \/>\nsaying the government did not plan to expropriate shares and he<br \/>\nurged companies to look at Zimbabwe as long-term investment<br \/>\ndestination.\t<\/p>\n<p> (Reporting by MacDonald Dzirutwe; Editing by Olivia Kumwenda<br \/>\nand Toby Chopra)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HARARE, March 21 (Reuters) &#8211; Zimbabwe plans to float a $100 million bond to rebuild its dilapidated infrastructure as the country struggles to attract foreign investment, the finance minister said on Wednesday. Zimbabwe&#8217;s infrastructure, such as its roads, railways, dams and power plants, has been starved of finance due to a decade of economic collapse, [&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-9172","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\/9172","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=9172"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9172\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}