Mugabe “Frustrating” Investment Plans- Australia
19 January 2016
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Australia says its hopes for long term foreign direct investment plans in Zimbabwe are dwindling because of lack of Harare’s “strong” reform commitment.
Government is yet to implement  the constitution which was effected in May 2013 and this has been a cause for concern to both the civil society and the international community who want to see a democratic Zimbabwe.
But of major concern to the international community are political and economic reforms which guarantee human and property rights and protect business investments.
Australia is one such western country with economic investments interests in the Zimbabwe which says their zeal is slowly diminishing.
The western country’s Ambassador to Zimbabwe Suzanne McCourt told Zimeye.com that Zimbabwe’s huge economic prosperity is being hampered by the country’s arrogance to reform.
“There was a very constructive development at the meeting with World Bank and IMF in Lima last year at which Zimbabwe presented a proposal to deal with its debt arrears which would then potentially unlock funding for the future,” said the western envoy.
“Australia was supportive of that process as well as other countries because we want to see Zimbabwe develop economically and to succeed because there is so much potential here”.
Last year Finance Minister Patrick Chinamasa went to the IMF and World Bank meeting in Lima where he unveiled the country’s $10 billion debt clearance strategy which was well received by the international money lenders.
Chinamasa’s economic reform efforts are however being hampered by   a group of young turkeys in his Zanu PF party who include President Robert Mugabe’s nephew and the Indigenisation Minister Patrick Zhuwao.
Zhuwao  is calling for Chinamasa’s head and accusing him of selling out through calling for the revision of the country’s empowerment laws so that they become attractive to foreign direct investment.
Ambassador McCourt said policy consistence unlocks business investment opportunities which western countries want for the benefit of the ailing Zimbabwean economy.
“What’s needed for that process to be successful though is a strong government commitment and a commitment to reform,” she said.
“There are some tricky issues in that basket of reforms that might be required in that part of the process, but Australia as I often say wants to be a constructive player here and to encourage economic development including hopefully longer term Australian foreign investment in Zimbabwe”.

6 Replies to “Mugabe “Frustrating” Investment Plans- Australia”

  1. The Australian diplomat sounds more realistic unlike the British and the corrupt French who say there are good developments.

  2. The Australian diplomat sounds more realistic unlike the British and the corrupt French who say there are good developments.

  3. Zimbabwe’s worsening economic meltdown is socially and politically unsustainable and Zanu PF will be forced to accept this political reality sooner or later. “Penga udzoke!” as one would say in Shona.

  4. Zimbabwe’s worsening economic meltdown is socially and politically unsustainable and Zanu PF will be forced to accept this political reality sooner or later. “Penga udzoke!” as one would say in Shona.

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