Welcome to Ghana Pundit: The Home of Politics and Intelligent Analysis

LATEST:

Grab the widget  Tech Dreams

Insist on Your Right to Education

Uneducated citizenry is like a pitch any game can be played on it. Illiteracy is what has given the politicians in Ghana the chance to fool so many people for so a long a time.

Saturday, June 13, 2009

US to Bail Out Zimbabwe

President Barack Obama has announced $73m (£44m) in aid for Zimbabwe.

The US president was speaking at the White House in Washington, where he met the visiting Zimbabwe Prime Minister Morgan Tsvangirai.

Mr Obama said he wanted to encourage the rule of law, human rights and basic health and education in Zimbabwe.

Mr Tsvangirai - who entered a power-sharing agreement with President Robert Mugabe in February - is on an international tour to seek aid.

President Obama said he had "extraordinary admiration for the courage and tenacity" shown by Mr Tsvangirai, the leader of the former opposition Movement for Democratic Change in Zimbabwe.

Contrast with Mugabe
The US president said the power-sharing coalition in Zimbabwe was showing promise, following what he termed the "very dark and difficult" period the country had been through.

Correspondents say the warm welcome given to Mr Tsvangirai is in sharp contrast to the attitude towards President Mugabe, who is the subject of a travel ban and assets freeze by the United States and European Union.

Earlier, Zimbabwean Finance Minister Tendai Biti said the country's economy could grow by between 4% and 6% this year.

Mr Biti said steps would be taken to restrict central bank activities such as borrowing and that Zimbabwe was coping with a lack of foreign aid.

The Zimbabwe economy has been battered by years of hyperinflation.

Mr Biti was speaking at the World Economic Forum on Africa in Cape Town.

"I think we will be able to achieve a growth rate of at least 6%, although conservatively it will be 4% in 2009," he told journalists.

Zimbabwe's economy has been shrinking for years. It contracted by 6.1% in 2007, according to the International Monetary Fund.

The power-sharing government has said the country needs about $10bn (£6bn) to stabilise its economy.


Source: myjoyonline - JoyFM Online

No comments:

Ghana Pundit Headline News

E-mail subscription

Enter your email address:

Delivered by FeedBurner

Pan Africa News

Graphic Ghana

MYJOYONLINE.COM

Peacefm Online - News with a vision

The Times - World News

The Times - Africa News

Pambazuka News :Emerging powers in Africa Watch

AfricaNews - RSS News

The Zimbabwe Telegraph

BBC News | Africa | World Edition

Modern Ghana

My Blog List

R.I.P.

R.I.P.

AfriGator

AfrigatorAfrigator