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UK to Boost Zimbabwe’s Economy under A Condition

British ambassador, Catriona Laing, has advised President Robert Mugabe to intensify his government’s re-engagement process with the west for the current economic challenges the Southern African country is facing to end.

Zimbabwe has been hit by cash shortages which have seen  thousands of people  sleeping in bank queues to access their salaries.

The situation has forced government to introduce the so called  Bond Notes to address the cash crisis, but the business community as well as economists say the introduction of the same would create shortages of goods and services.

President Robert Mugabe on Thursday, told his Politburo meeting that the introduction of Bond Notes was going to solve  the cash shortages the country is experiencing.

 

The veteran leader also described the rejected currency as “the only cure,” suggesting that only a Zim dollar return would fix the ailing economy.

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Mugabe said the cash crisis is “temporary” and that government will press on with the introduction of bond notes, which he called a “surrogate currency,” despite opposition from the market.

Addressing government officials, the diplomats and invited guests who were gathered for the Queen Elizabeth II’s 90th birthday celebrations, in Harare Thursday, British ambassador to Zimbabwe, Catriona Laing, said Zimbabwe’s EU re-engagement process was the only solution to the country’s economic woes.

“We do encourage the government to accelerate the process of re-engagement with the international community as part of tackling the fundamental economic challenges.

“We will do as UK what we can to stimulate the economy,” she said.

“On behalf of the United Kingdom I want to assure Zimbabweans that we are here to support this re-engagement process very actively,” said Ambassador Laing.

 

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