Tsvangarai announces line of credit from China

Southeast Asia News.Net
Wednesday 1st July, 2009

Prime Minister Morgan Tsvangirai of Zimbabwe has announced that Harare has accepted a credit line of US$950 million from China.

The Chinese loan was welcomed by Mr Tsvangirai, who recently toured Western countries to raise funds.

He only managed to raise some $500 million dollars during his trip.

As the loan was being announced by the prime minister, another news conference was being told that ministers belonging to Mr Tsvangirai's Movement for Democratic Change were boycotting a cabinet meeting held by President Robert Mugabe.

One of the festering issues that the MDC party has been trying to resolve is the tenure of Reserve Bank Governor Gideon Gono, a Mugabe appointment, whom they have accused of taking action without consultation with government partners.

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