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TOPIC: show me the money

rick

Senior Member

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Posts: 156

Date: May 1, 2007

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Finance Minister Goodall Gondwe says Zimbabwe will pay for maize imports amounting to 400,000 tonnes in cash by September. Gondwe was reacting to reports in Zimbabwe press that governments of Malawi and Zimbabwe have agreed to barter maize with sugar. The press in Zimbabwe, a neighbour rocked with political and economic crisis due to the controversial land grabbing of white owned farms, reported last week the strategy to barter sugar for maize was devised by the Joint Operations Command (JOC) food taskforce. The taskforce brings together the army, ministries of Agriculture and Industry and came into being in March as Zimbabwe desperately tries to stave off starvation. However, Gondwe denied the reports. There is no barter arrangement. They were wrong reports Weve a lot of sugar ourselves, Gondwe said. When put to him that Malawian businesses that traded with Zimbabwe have had their money locked up in the country because of lack of foreign exchange, Gondwe said: As you can imagine, we are aware about that [shortage of forex]. But weve had negotiations and weve reached an agreement where we are sure that they will pay us. The 400,000 tonnes will take six months since March to export to Zimbabwe. That will be up to September. Within that period, we expect payment to be made. In fact, we are expecting payment to be made anytime now, Gondwe said. National Food Reserve Agency (NFRA) chief Nasinuku Saukila was quoted in our sister paper The Sunday Times as saying the original transaction whose documents he had, showed that payment was covered by a letter of credit. According to Saukila, 5,000 tonnes of maize has already been exported and shipment is going to take 10 months to finish. Once a prosperous agricultural exporter, Zimbabwe has inflation of 2,200 percent, soaring poverty, high unemployment and chronic shortages of food, fuel and foreign exchange. It is alleged the government of Zimbabwe has been bartering trade in minerals, land and other natural resources with any country that has potential to provide fuel. __________________ why buy a woman a watch, when there is a clock on the oven?

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