Sunday, June 18, 2006

Zim: Fantasy economics

....The government launched an economic blue-print, the National Economic Development Priority Programme (NEDPP) two months ago under which it claimed it would raise US$2,5 billion in three months to stabilise the local currency, fight rising inflation, mobilise savings and ensure food security....

Economic Development minister Rugare Gumbo told the state media last week that the government had so far raised a paltry US$350 million in cash under the NEDPP, admitting: "We have not gone very far, unfortunately."

He indicated a shift in focus, from raising cash to securing investment pledges to make up for the US$2,5 billion the government intended to raise....

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