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Daily Nation : February 6th 2014
28 | Africa News FEARS | Economy in trouble Zimbabwe needs $4bn rescue, says former minister Mugabe’s government should act to prevent a collapse of the economy, opposition man warns BY KITSEPILE NYATHI NATION CORRESPONDENT HARARE, Wednesday Tendai Biti has said. The southern African country’s Z economy is expected to grow by 4,2 per cent this year due to collapse of the manufacturing sector and a slowdown in agriculture. Mr Biti, now the shadow the Finance minister for the opposition Movement for Democratic Change (MDC), told journalists on Tuesday in Harare that President Robert Mugabe’s government should act to prevent a collapse of the economy. “The government needs to arrest the deflationary situation. In our opinion as MDC, we think that this economy is in urgent need of imbabwe urgently needs $4 billion to prevent the economy from collapsing, former Finance minister a stimulus package to the tune of $4 billion,” he said. Mr Biti said so far the government did not seem to have any ideas to reverse the economic challenges characterised by tight liquidity and massive company closures. “We don’t believe that the solutions offered in the 2013/14 budget will succeed,” he said. “We do not believe that the African Import and Export Bank will offer $100 million to the government of the day. “The Afrexim bank is a trade bank and it is not designed to offer this kind of assistance.” The former Finance minister said the government could seek loans from neighbours such as South Africa. “It is important to engage South Africa like the Rhodesian (colonial) government that arranged an overdraft facility for companies then,” he said. “They should just tuck their tails between their legs and go to negotiate with Pretoria.” Mr Biti said the government could be forced to re-introduce the Zimbabwe dollar, which was abandoned in 2009 due to hyperinflation, as it battles liquidity constraints. SURGERY | Somali help DAILY NATION Thursday February 6, 2014 Burkina parties urged to keep off constitution BY TAMBA MATTHEW NATION Correspondent DAKAR, Wednesday The head of the mediation group set up to facilitate a peaceful transition in Burkina Faso, has urged opposing parties “to scrupulously respect” the constitution. Former President Jean Baptiste Ouédraogo, appealed to the ruling party and opposition “to avoid attempts at revising’’ the present constitution which is the bone of contention between the two sides. The civil society-backed opposi- tion which had long been agitating for President Compaoré to give up running for a third and controversial term were joined in the efforts by a political movement of personalities who defected from the ruling party. The opposition coalition firmly believes that President Compaoré is planning to seek Senate’s approval to amend Article 37 of the constitution to allow him to run for the 2015 presidential poll. On Monday, the mediation group PHOTOS \U UN IST Top: Surgeons stitch up a patient after an operation at Banadir hospital in Mogadishu, on Tuesday. Above: A surgeon holds bladder stones recently removed from a patient. comprising of four prominent personalities, held its maiden and marathon meeting with the representatives of the ruling and opposition parties in Ouagadougou on the way out of the political logjam. During that meeting, the group pro- posed the adoption of a mechanism which could facilitate ‘’a honourable exit’’ of the incumbent President Blaise Compaoré from the helm of power.
February 5th 2014
February 7th 2014