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Mnangagwa Says Sanctions "Are Good" For Zimbabwe

9 months agoSat, 29 Apr 2023 11:32:25 GMT
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Mnangagwa Says Sanctions "Are Good" For Zimbabwe

President Emmerson Mnangagwa on Friday said Western-imposed sanctions are actually good for Zimbabwe as they have almost turned the country into an attraction for foreign exhibitors.

Mnangagwa made the remarks while addressing journalists soon after touring stands at the Zimbabwe International Trade Fair (ZITF).

He was being accompanied by visiting Eswatini King Mswati III who officially opened the fair. Mnangagwa said:

People get excited by sanctions; that is why they come here to see what happens under sanctions.

In fact, you see that sanctions are very good. Numbers are increasing, increasing, and increasing.

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The Americans are here, the British are here, and the European Union is here, what else would we want?

Everybody is here, so this re-engagement and engagement are bearing fruits.

You see, perhaps they (international exhibitors) heard that His Majesty (King Mswati) is coming.

That’s why they are here. In fact, if that is the reason next year he is going to come again.

Zimbabwe has been subject to various sanctions by Western countries such as the United States, the United Kingdom and the European Union, for alleged human rights abuses, political instability, and economic mismanagement.

In 2001, the United States enacted the Zimbabwe Democracy and Economic Recovery Act (ZDERA).

ZDERA imposed targeted sanctions on Zimbabwe, including travel bans and asset freezes on senior Government officials, and also restricts US support for international financial institutions providing assistance to Zimbabwe.

Sanctions have contributed to Zimbabwe’s economic decline by restricting access to foreign investment, credit lines, and trade partners.

Sanctions are, however, not the only factor contributing to Zimbabwe’s challenges.

Other factors, such as corruption, mismanagement, and political instability have also contributed to Zimbabwe’s socio-economic problems.

More: Pindula News

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