22 January 2018
   
Cholera: Zim on high alert as 4 killed
ANC confirms Zuma exit discussion
Government orders blood price reduction
- One day’s supply left of key blood group
Kasukuwere begs ED for forgiveness: official
Chinamasa to divert wages to devolution
Dump Mugabe regalia, Zanu PF official
Mugabe exploited my illiteracy: Mujuru
MORE NEWS
Gemmology center in Mutare soon
NRZ loss as gold miners damage rail line
MORE BUSINESS
Unpaid Mr ugly reports sponsors to ZRP
Zim author releases new book in USA
MORE SHOWBIZ
Billiat might still leave: Sundowns coach
Anger as Dembare approach City player
MORE SPORTS
Mnangagwa’s ‘New’ Zim merits support
Zhuwao: kleptocracy and EDiots in Davos
MORE OPINION
 
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
MORE COLUMNISTS
 
 
Zimbabwe, US not talking: Chinamasa
06/03/2014 00:00:00
by NewZiana
 
We are not talking ... Patrick Chinamasa
 
RELATED STORIES
Mugabe’s $3.4m US fixer convicted
Trial of Mugabe lobbyist opens in US
Mugabe ignores jail threatened US backer
US: Incompetence the problem, not sanctions
Mugabe court threat during UN trip
US VP held ‘off-radar’ Gono meeting
Sanctions affecting me, tycoon tells Obama
US upholds Mugabe ban from Obama meet
US-Africa Summit: Obama bars Mugabe

FINANCE Minister Patrick Chinamasa has revealed that relations between Zimbabwe and the United States are severely strained to the extent that the both countries are "not talking".

Chinamasa, who was responding in Parliament to a question on whether the government was negotiating with the US to improve the availability and accessibility of US dollars in the country, said "no talks were taking place between the two governments."

Zimbabwe dollarised its economy in 2009 through the adoption of a basket of currencies with the US dollar being most commonly used.

"The US has imposed sanctions against Zimbabwe. We are not both politically and economically on talking terms. We cannot talk to them about economic issues when they imposed sanctions on us," Chinamasa said.

The US slapped Zimbabwe with an embargo over a decade ago citing alleged rights abuses and election fraud.

President Robert Mugabe however believes the country was being punished for its land reform programme which saw large tracts of prime agricultural land taken from the white minority and redistributed to the black majority.

Chinamasa said that liquidity constraints which the economy continued to face would persist until programmes were implemented to improve the situation.

The liquidity crunch has grossly impacted on economic recovery, as industries struggle to improve production while product demand is depressed due to low disposable income.

He said Zimbabwe could only improve its situation through borrowing, foreign direct investment, lines of credit and boosting its exports.



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker