Finance and Economic Development Minister Professor Mthuli Ncube is set to leave for the United States of America next month to apprise that country’s government officials on positive developments the country has achieved in recent months.
The engagements are expected to play a pivotal role in convincing the US to lift the ruinous two decades old economic sanctions imposed on the country under the Zimbabwe Democracy and Economic Recovery (Amendment) Act.
Zidera was initially signed into law by former President George W. Bush in December 2001, but had its amendments signed by current President Donald Trump in August last year.
Devastating effects of the Sanctions
The law, which opposition politicians and the civic society campaigned for and are still lobbying the US government to retain, empowers Washington’s representatives in multilateral financial institutions such as the World Bank to vote against the extension of any financial support to Harare, among other constraints.
The economic sanctions, which are said to be targeted at senior Government officials by players in opposition politics, civic society and non-governmental organisations, have seen the country losing at least 80 lines of credit.Read More