MDC-T secretary general Tendai Biti yesterday said the Zanu PF government should swallow its pride and engage South Africa for an economic pact that will see local companies accessing funding at concessionary rates as happened during the Rhodesian era.
By Paidamoyo Muzulu Senior Reporter
Biti, a former Finance minister, told a Press conference in Harare that engaging South Africa would help resuscitate the ailing local industry through cheap funding while at the same time importing from the southern neighbour.
“It is important to engage South Africa like the Rhodesian government that arranged an overdraft facility for companies then,” Biti said, “They should just tuck their tails between their legs and go to negotiate with Tshwane.”
He added that Zimbabwe required an immediate capital injection of $4 billion to stimulate economic activities with most of the money channeled to infrastructure development.
“The money ($4 billion) is needed to oil the economy and unlike the United States that has the luxury to engage in quantitative easing we have to borrow these funds. It then remains imperative that three quarters of the money goes into infrastructure development and the remainder to recapitalise our industry,” he added.
Biti reiterated that there was need for the country to find a political solution to the growing economic and political deterioration.
“The question of GNU II, there is need for dialogue. Zanu PF is clueless and directionless on how to take the economy forward. It’s clear we need dialogue,” he said.
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