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| Africa: Southern | ||
| Zim Moves Deeper Into Debt Trap | ||
| 2003-08-01 | ||
EXTERNAL arrears have ballooned to about US$1,6 billion (about Z$1,3 trillion at the official rate) as Zimbabwe sinks deeper into a debt crisis, The Financial Gazette can reveal. Government arrears constitute the bigger part of the outstanding debt, which has skyrocketed in Zimbabwe dollar terms because of the devaluation. As of July 4, 13 members of the Paris Club were owed US$416.8 million up from US$397.9 million as of June 27. The 13-member states include Austria, Belgium, Finland, France, Germany, Italy, Japan, Netherlands, Norway, Spain, Switzerland, United Kingdom and the United States. Zimbabwe has been failing to service its debts for the past three years because of the shortages of foreign currency. In his last monetary policy statement presented in November last year, out-going Reserve Bank of Zimbabwe governor Leonard Tsumba said external borrowing by government has been mainly to finance on-going projects.
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| Posted by:Fred Pruitt |
| #16 Steve White---I've got the Municipality's mental health specialists on the line with 9-1-1 (we have no counties here in Alaska, only municipalities and boroughs), WTF do you want me to tell 'em, that I went to UC Berkeley during the sixties. You wanna get me in trouble? |
| Posted by: Alaska Paul 2003-8-1 7:06:36 PM |
| #15 I am going to hammer home white guilt. We are clear of white guilt. Those rotten ass white farmers in Zimbabwe were thrown off their land as an expression of social justice. They got what was coming to them. For my money, I am pretty sure Zimbabwe will suffer from a budding famine this winter, but hey, at least there are no white farmers in Zimbabwe. Social justice reigns supreme in Zimbabwe. I hope NMM enjoys watchig the starvation his brand of social justice will bring. I won't enjoy human suffering myself, but according to NMM it is all in the cause of social justice. So, enjoy! ;o) |
| Posted by: badanov 2003-8-1 6:51:25 PM |
| #14 Come on guys, I'm sure if NMM was one of those white farmers that got the boot from the land he worked, for say, the last 20 years, he simply would've turned to the new owner and said, "Sir, would you please hire me. I'll even work for half the price and wash your clothes." (Unjustified guilt is a terrible thing) Me, (under the same circumstances) would've salted the earth the night before I left and gave them a wave, a smile, and wished'em luck in the morning. MUAH HAHAHAHAHAH. (but that's just me) It never ceases to amaze me. When you work hard, make sacrifices, go through hell and succeed, you're a selfish evil human being. (Oh, and don't be caught BSWW'ing (Being Successful While White...it's the worst of all of the sins.) If, however, you sit on your ass, do absolutely nothing to improve your situation, except to take no responsibility for your laziness, bitch about it, and blame everyone else for your problems. They label you a victim and petition for a social program. Of course, it's funded by raising the successful person's taxes. GO Nationial Liberal Front! Losers. |
| Posted by: Paul 2003-8-1 5:07:05 PM |
| #13 As it happens NNM, you are also wrong about North Carolina. The US market is distorted by a subsidy and quota arrangement adminstered by the USDA that keeps domestic blend tobacco prices well above world prices (severely limiting exports). The benefit is going to Brazil and Argentina. |
| Posted by: Sharon in NYC 2003-8-1 4:55:40 PM |
| #12 NMM said: "Shut the fuck up." I'll spell it out, since the abbreviation removes so many of the violent and disrespectful connotations normally associated with that clever turn of phrase. Not what I'd call real intelligent argument. What I always find amazing about the Internet is the number of people who write things in text that they would never say to your face. Abbreviating gross insults only demonstrates a greater degree of cowardice. |
| Posted by: 11A5S 2003-8-1 11:55:14 AM |
| #11 Steve and Secret, Now don't spoil NMM's well deserved guilt trip! I am certain that he likes wearing a hairshirt and sleeping on glass shards. NMM, please take away all the sins of my white, white world. What makes you assume that we crackers want to undertake world domination anyway? |
| Posted by: Craig 2003-8-1 11:24:31 AM |
| #10 NMM- The actual history of the region cannot be easily defined in good/bad black/white terms. The ancestors of the white Zimbabwean farmers immigrated to the region over 100 years ago, by and large occupying unused land. Their efforts provided the infrastructure which helped create modern Zimbabwe, which until recently was one of Africa's more developed nations. I honestly think that without Bob's idiocy the racial issues of that former British colony would not be so severe. |
| Posted by: Secret Master 2003-8-1 11:12:20 AM |
| #9 Why NMM, what a positively ... liberal comment to make! You may feel plenty of guilt about your birth status, which explains your defensiveness when it's pointed out to you. We understand. Really. Don't we, my fellow Rantburgers? (Alaska Paul, dial 9-1-1 on your cell phone and get the county mental health clinic on the line. Now, please.) There was a time, not so long ago, when 'liberals' supported human rights, democracy and economic development, and stood firm against dictators. While some (e.g., LiberalHawk) still can claim that proud heritage, others (e.g. you) have moved on to a brave, new world that seems to have only one clear rule: whatever America does, it's wrong. Nevertheless, even though I too am a white, Christian male of Anglo heritage, I support ridding the world of bloody dictators like Bob, Saddam and Kim. It's a character flaw but I've managed to live with it so far. PS: about those sleeping pills Craig mentioned -- please don't break them in half, they don't work so well that way. |
| Posted by: Steve White 2003-8-1 11:08:43 AM |
| #8 Craig, Craig, Craig, thanx for the oh so witty suggestion--but when you finally realize that we are no longer living in the 18th century--you'll be the one calling Dr Kevorkian--since simply by being born a white male you no longer are automatically given domain over the earth--now STFU. |
| Posted by: Not Mike Moore 2003-8-1 10:43:54 AM |
| #7 NMM- The only clean and complete way to assuage your WLPGS (white liberal perfectionist guilt syndrome) is suicide. I recommend a quart of Jack Daniels and 60 heavy duty sleeping pills. Maybe in the next life you can find multi-culti perfection! |
| Posted by: Craig 2003-8-1 10:32:28 AM |
| #6 Which is great news for North Carolina! |
| Posted by: Not Mike Moore 2003-8-1 9:34:47 AM |
| #5 The flue-cured tobacco crop in Zimbabwe is estimated to drop to 85 million kilos in 2003 (based on seed sales), down more than 50% from approx. 175 million kilos in 2002 (and 237 million kilos as recently as 2000). They say many of the white farmers kicked out of Zimbabwe have moved to Malawi. |
| Posted by: Sharon in NYC 2003-8-1 9:30:22 AM |
| #4 Yup, the white folks stole it fair and square! |
| Posted by: Not Mike Moore 2003-8-1 9:12:14 AM |
| #3 On the farms, yesterday I read a story that Bob was telling his buddies that he had a new one man, one farm policy. They get to pick which farm they want and have to give the others back for redistribution. Opponants say it's a sham. I think Bob wants to spread the land to more supporters to improve his base. We'll see. |
| Posted by: Steve 2003-8-1 8:35:47 AM |
| #2 Maybe they can rely on their agricultural sector to produce enough income to repay the debt... Oh wait, the owners of the farms were driven out so the right colored folks can own a farm. Wonder how that's going... |
| Posted by: badanov 2003-8-1 7:18:56 AM |
| #1 As of July 4 hmm, there's gotta be a conspiracy theory here somewhere... |
| Posted by: Rafael 2003-8-1 1:52:38 AM |