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ZIMBABWE: GOVERMENT SEEKS FOREIGN SUPPORT March 9, 2006
Kizza Harajah
(SomaliNet) Zimbabwe's Finance Minister, Hebert Murerwa and Zimbabwe Reserve Bank, Gideon Gono are currently in Washington holding talks with the IMF on how to deal with the country's poor balance of payment situation. "Although our voting rights have now been restored we need technical assistance and financial assistance. We know this will not be automatically restored but this is something we hope to negotiate... We will be meeting the board on Wednesday," Murerwa said.
Zimbabwe has suffered this Balance of Payment problem for the past six years. Zimbabwe has sought foreign support despite president Robert Mugabe's statement that Zimbabwe can develop on its own. Mugabe himself acknowledged the need for help when talking to Zimbabwe's ambassador to Britain.
Zimbabwe has an unemployment rate of 70% and suffers from a serious degree of inflation. Many Zimbabweans are living below the poverty line.