Zimbabwe pays $180m to service loan from China

HARARE – The Zimbabwean Government on Wednesday said it spent 180 million dollars to service outstanding loans from China between January and June, 2014.

The Minister of Finance, Mr Patrick Chinamasa, made this known in a meeting with business leaders in Harare.

Chinamasa said that the country had to service the loan as part of efforts at improving relations and encourage new financial support from China. [eap_ad_2] “In the first six months of this year, we have had to cough up 180 million dollars, which was not in the budget.

“We are doing so just to make ourselves look good,” he explained.

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It would be recalled that Chinamasa in August, accompanied President Robert Mugabe on a visit to China where the president sought support to help his country’s struggling economy. (Reuters/NAN)[eap_ad_3]

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