Zimbabwe’s prime minister, Morgan Tsvangirai, said an appointeenegotiated a deal with China. Associated Press
Zimbabwe Says China Is Giving It Loans -- New York Times
JOHANNESBURG — Zimbabwe’s prime minister, Morgan Tsvangirai, said Tuesday that an official he had appointed had secured lines of credit worth $950 million from China, President Robert Mugabe’s longtime ally.
Mr. Mugabe’s party has mocked Mr. Tsvangirai for failing to bring home much aid from his three-week tour of the United States and Europe. Zimbabwe’s government — a virtually bankrupt contraption led by Mr. Mugabe and his rival, Mr. Tsvangirai — needs an estimated $8 billion to rebuild the country’s ruined economy.
The West has been leery of giving the government a large infusion of money until Mr. Mugabe stops the human rights abuses that have been a fixture of his 29 years in power. China, however, has maintained its close relationship with Zimbabwe as it has extended its financial ties to other nations in Africa.
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Update: Zimbabwe claims $1bn loan from Beijing -- The Age
My Comment: This money buys Mr. Tsvangirai time to assert his party's position in the government. The Chinese are now banking on him becoming Zimbabwe's leader after Mr. Mugabe is gone .... a not so sure bet since Mr. Mugabe's allies and supporters may find their own replacement when he is gone, and leave Mr. Tsvangirai out of power.
I completely agree with your assessment. China can dress this up as economic aid, but it's really a simple political move. Not to mention this money could buy them a greater share in Zimbabwe's mines in the longer run.
ReplyDeleteAs newsy.com puts it, borrowing from The Australian, “China has embarked on a continent-wide drive to secure influence across Africa, in an effort to secure future sources of raw materials, and is seen to have none of the qualms that exist in Washington and elsewhere about Mugabe's human rights violations.” (full video at http://www.newsy.com/videos/eastern_influence_in_africa)