‘UK TO STABILISE ZIMBABWE’S CURRENCY, CLEAR WORLD BANK LOAN’

Boris Johnson

Boris Johnson, Foreign Secretary, on Wednesday, said at the African Union-EU summit in Abidjan that Britain could take steps to stabilise Zimbabwe’s currency system and extend a bridging loan to help it clear World Bank and African Development Bank arrears.

The decision, however, depends on “democratic progress. Those are indeed the things that we would try to do to help Zimbabwe forward, but we’ve got to see how the democratic process unfolds,” he said. Mr. Emmerson Mnangagwa was sworn-in as president on November 24 after the resignation of Mr. Robert Mugabe, and has said his government will focus on economic growth; as the country is set to hold elections in 2018.

“Recent events in Zimbabwe offer a moment of hope for the country and its people. This is a time to look to the future and to make clear that Britain shares the common vision of a prosperous, peaceful and democratic Zimbabwe. I am encouraged by President Emmerson Mnangagwa’s words so far. During his inauguration speech, he promised to reform the economy and give investors the security of title they need if Zimbabwe is to fulfill its potential and create the jobs that are sorely needed. For as long as the President acts on his words, then Britain is willing to work alongside him and offer all the support we can. The UK’s relationship with Africa and the African Union will continue to go from strength to strength and as we leave the EU, I want to work even more closely with my counterparts in the region,” Johnson said.