Both bank credit and the M3 money supply in the United States have been contracting at rates comparable to the onset of the Great Depression since early summer, raising fears of a double-dip recession in 2010 and a slide into debt-deflation.
Finance Minister Tendai Biti has disbursed US$ 100 million from the International Monotary Fund (IMF)’s special drawing rights (SDR) allocations for “priority development projects” that have been stalled due to lack of financial resources.
March 10, 2010 – The International Monetary Fund is still not prepared to resume lending to Zimbabwe, the head of the body said Wednesday, citing concerns about the country’s political situation.
Zimbabwe’s unity government is reviewing rules forcing foreign-owned firms to sell a majority stake to locals, a cabinet minister said on Wednesday, adding that the regulations were published prematurely last month.
Zimbabwe will impose a punitive levy on foreign firms to compel them to cede controlling stake to locals, Indigenisation Minister Saviour Kasukuwere said on Friday.
Beleaguered Zimbabwean President Robert Mugabe’s circle of friends appears to be slowly shrinking amid revelations that his trusted Chinese comrades are beginning to demand more than the usual rhetoric and want to see tangible progress – and repayment of loans advanced.
The Zimbabwe Stock Exchange’s Mining Index fell 4.6 percent because some investors are wary of a new law that could force companies to transfer 51 percent of their shares to black Zimbabweans, Kingdom Stock Brokers Ltd. said
Zimbabwe is willing to offer tax breaks to investors willing to put big money into power generation projects to help ease a power shortage in the country, the energy minister said on Tuesday.
Zimbabwe’s minister of mines Obert Mpofu kept a straight face at the Mining Indaba in Cape Town this week when he said foreign investors in his country’s mining industry are “guaranteed security of tenure”.
IMBABWE has very poor investment protection policies says a report published by the Washington-DC-based World Bank.
