Mugabe loses look East deals

Mugabe loses look East deals
Published: 20 July 2015 (870 Views)
Revelations following the visit of China by the Vice President Emmerson Mnangagwa posit that Zimbabwe might have lost its look East policy deals due to escalating economic crisis and corruption rocking the nation.

Analalysts said President Robert Mugabe has lost his latest look East friends due to failed leadership renewal which is discouraging the donors from that country. "Chinese will not fund Zimbabwe until Mugabe goes," claimed analysts.

"Diplomats who followed Mnangagwa's visit and officials who were part of the delegation to Beijing said this week Chinese mandarins raised fears about Mugabe's age, Zanu PF leadership renewal, Zimbabwe's investment climate and ease of doing business, the country's relations with Western countries, government's failure to tackle corruption and bureaucratic red tape, among other thorny issues."

The analysts said the Chinese also said they are worried about Zimbabwe's high political, economic and country risks, as well as poor credit rating.

Mnangagwa was in China where he is said to have signed quite a number of business deals and even asked that the Chinese Yaun be used as one of the foreign currencies used in Zimbabwe.


- Byo24News

Tags: lookEast, China, MUgabe,
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