China Ignores Zimbabwe's Plea For A Bailout Package, Again
Chinese Foreign Affairs Minister Wang Yi reportedly told President Emmerson Mnangagwa that no financial bailout would come from China during his recent visit to Zimbabwe.
According to The Independent, Wang said Zimbabwe can only benefit from China through projects under China’s Belt and Road Initiative (BRI) and the Forum on China Cooperation (FOCAC).
Wang held separate meetings with President Mnangagwa, Vice President Constantino Chiwenga, and Foreign Affairs minister Sibusiso Moyo. The Independent quotes its source, who attended the high-level meetings, as saying:
China attaches immense importance to its bilateral relationship with Zimbabwe. This was underscored by the Chinese Foreign minister’s visit to Zimbabwe.
Minister Wang emphasised to President Mnangagwa that Zimbabwe must implement a comprehensive economic reform agenda pivoted on tackling corruption.
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In April 2018 China refused to grant President Mnangagwa a US$1,5 billion liquidity rescue package the Zimbabwean government desperately needed to revive the country’s ailing economy.
Meanwhile, the European Union has bemoaned Harare’s gross abuse of human rights while Japan has also urged the Zimbabwean government to deal with rampant corruption.
