Reuters AlertNet Lite - Zimbabwe to discuss $2 bln loan from China -report

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Zimbabwe to discuss $2 bln loan from China -report

22 Dec 2006 06:27:50 GMT
Source: Reuters

HARARE, Dec 22 (Reuters) - Zimbabwe will soon open negotiations with China for a $2 billion loan as part of efforts to stabilise its imploding economy, the state-owned Herald newspaper reported on Friday.

"China's government is ready to negotiate with the government for a $2 billion loan facility to fight inflation and other aspects of the economy," Chris Mutsvangwa, Zimbabwe's ambassador to China, was quoted as saying by the newspaper.

This would be the largest foreign loan for President Robert Mugabe's government, which is presiding over its worst economic crisis since independence from Britain in 1980.

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