ZWNEWS.com - linking the world to Zimbabwe: "Tuesday 21 September, 2004 HEADLINES
IMF to close Zimbabwe
author/source:Mail & Guardian (SA)
published:Tue 21-Sep-2004
posted on this site:Tue 21-Sep-2004
Article Type : News
'After he left they didn't appoint anyone...there's not much happening between the IMF and Zimbabwe'
The International Monetary Fund (IMF) is due to close its offices in Zimbabwe at the end of October because it no longer has a resident representative, a local official said on Monday. 'The dates for the closure [of the office] will be the end of October 2004,' said Rodney Matemachani, the officer in charge of the Harare office of the international lender. "
Tuesday, September 21, 2004
Monday, September 20, 2004
Business Day
Business Day: "SA, Zimbabwe warned to hasten land reform
International Affairs Editor
A GLOBAL think-tank has warned that if SA and Zimbabwe do not take concrete steps to tackle land reform issues, racial tensions and poverty could rise in the region.
In its latest report, the International Crisis Group sounded the alarm, warning that the consequences of SA not dealing with the problem could potentially hurt southern Africa. "
International Affairs Editor
A GLOBAL think-tank has warned that if SA and Zimbabwe do not take concrete steps to tackle land reform issues, racial tensions and poverty could rise in the region.
In its latest report, the International Crisis Group sounded the alarm, warning that the consequences of SA not dealing with the problem could potentially hurt southern Africa. "
Wednesday, September 15, 2004
Business Day
Business Day
Back to the ox span for failing Zimbabwe
---------------------------------------------------------------------
Signs of decay everywhere in African country
IN ZIMBABWE, a country that once boasted one of sub-Saharan Africa's most vibrant economies, things have become so bad that people have taken to telling a wry joke: "What did we have before candles?"
The answer: "Electricity."
Four years of turmoil have turned back the clock. Ambulances are drawn by oxen. Hand-guided cattle ploughs have replaced farm machinery.
The state railroad uses gunpowder charges on the tracks to warn trains of danger ahead.
Back to the ox span for failing Zimbabwe
---------------------------------------------------------------------
Signs of decay everywhere in African country
IN ZIMBABWE, a country that once boasted one of sub-Saharan Africa's most vibrant economies, things have become so bad that people have taken to telling a wry joke: "What did we have before candles?"
The answer: "Electricity."
Four years of turmoil have turned back the clock. Ambulances are drawn by oxen. Hand-guided cattle ploughs have replaced farm machinery.
The state railroad uses gunpowder charges on the tracks to warn trains of danger ahead.
Thursday, September 02, 2004
JTA NEWS
JTA NEWS: "ARTS & CULTURE
New book by Jewish leader gives
insider s take on Zimbabwe s decline
By Moira Schneider
CAPE TOWN, Sept. 1 (JTA) - Abe Abrahamson has always been a fighter for social justice.
From his days as a Cabinet minister in the government of Southern Rhodesia - now Zimbabwe — to his involvement in Jewish communal organizations there, as well as in those of his adopted home of South Africa, he has walked the world stage, rubbing shoulders with political leaders on three continents in his quest for social justice.
CAPE TOWN, Sept. 1 (JTA) � Abe Abrahamson has always been a fighter for social justice.
From his days as a Cabinet minister in the government of Southern Rhodesia � now Zimbabwe � to his involvement in Jewish communal organizations there, as well as in those of his adopted home of South Africa, he has walked the world stage, rubbing shoulders with political leaders on three continents in his quest for social justice."
New book by Jewish leader gives
insider s take on Zimbabwe s decline
By Moira Schneider
CAPE TOWN, Sept. 1 (JTA) - Abe Abrahamson has always been a fighter for social justice.
From his days as a Cabinet minister in the government of Southern Rhodesia - now Zimbabwe — to his involvement in Jewish communal organizations there, as well as in those of his adopted home of South Africa, he has walked the world stage, rubbing shoulders with political leaders on three continents in his quest for social justice.
CAPE TOWN, Sept. 1 (JTA) � Abe Abrahamson has always been a fighter for social justice.
From his days as a Cabinet minister in the government of Southern Rhodesia � now Zimbabwe � to his involvement in Jewish communal organizations there, as well as in those of his adopted home of South Africa, he has walked the world stage, rubbing shoulders with political leaders on three continents in his quest for social justice."
Friday, August 13, 2004
Prices skyrocket in Zimbabwe - Jul 19, 2004
CNN.com - Prices skyrocket in Zimbabwe - Jul 19, 2004: "Prices skyrocket in Zimbabwe
Monday, July 19, 2004 Posted: 1124 GMT (1924 HKT)
HARARE, Zimbabwe (AP) -- Just seven years ago, Zimbabweans could have bought 10 new cars for what they pay today to have an oil change and service on their 1997 model sedan. They could have bought 18 cars for the cost now of insuring that same car."
Monday, July 19, 2004 Posted: 1124 GMT (1924 HKT)
HARARE, Zimbabwe (AP) -- Just seven years ago, Zimbabweans could have bought 10 new cars for what they pay today to have an oil change and service on their 1997 model sedan. They could have bought 18 cars for the cost now of insuring that same car."
Wednesday, August 11, 2004
Zimbabwe Election torture warning
"Zimbabwe election torture warning
author/source:BBC News
published:Tue 10-Aug-2004
posted on this site:Wed 11-Aug-2004
Redress says the abuses were carried out by government employees, such as the police, or supporters of President Robert Mugabe's party, Zanu PF
By Grant Ferrett
A British-based lobby group has accused Zimbabwe's government of carrying out a systematic campaign of violence and torture against its opponents. The campaign group, Redress, says the scale of abuse increases in the run-up to elections. Their report refers to documented examples compiled by local human rights groups of nearly 9,000 violations in Zimbabwe from the year 2001 to 2003. It covers incidents such as torture, abduction and murder."
author/source:BBC News
published:Tue 10-Aug-2004
posted on this site:Wed 11-Aug-2004
Redress says the abuses were carried out by government employees, such as the police, or supporters of President Robert Mugabe's party, Zanu PF
By Grant Ferrett
A British-based lobby group has accused Zimbabwe's government of carrying out a systematic campaign of violence and torture against its opponents. The campaign group, Redress, says the scale of abuse increases in the run-up to elections. Their report refers to documented examples compiled by local human rights groups of nearly 9,000 violations in Zimbabwe from the year 2001 to 2003. It covers incidents such as torture, abduction and murder."
Tuesday, August 10, 2004
Air Zimbabwe losing its wings
ZWNEWS.com - linking the world to Zimbabwe: "Air Zimbabwe losing its wings - and other
author/source:Zim Online (SA)
published:Tue 10-Aug-2004
posted on this site:Tue 10-Aug-2004
Three planes remain functional with the rest sitting dilapidated and stripped of almost all usable parts
Harare - Air Zimbabwe has been fleeced of spare parts worth more than $3 billion (US$ 200 million at unofficial exchange rate) in a scam involving senior managers at the national airline, ZimOnline has established. Investigations show that in the last six months alone at least 332 various components were stripped from the state carrier's ageing planes and sent out of the country, ostensibly for repairs. The parts can not be accounted for because they were allegedly sold by senior managers who are said to have set up a thriving racket selling air craft spares to foreign dealers. Air Zimbabwe acting managing director Tendai Mujuru refused to speak on the matter saying, 'I am sorry I cannot help you with that kind of information. I do not comment on anything to do with Air Zimbabwe. Please give me time to do my work. I cannot comment on things that newspapers want to write on.' Documents shown to ZimOnline outlined how the airline's avionics department would routinely send aircraft components for repairs to Europe and other countries in Africa. A number of these were never returned to Air Zimbabwe because they were allegedly sold by the repair companies when the airline failed to pay. In most cases the parts vanished."
author/source:Zim Online (SA)
published:Tue 10-Aug-2004
posted on this site:Tue 10-Aug-2004
Three planes remain functional with the rest sitting dilapidated and stripped of almost all usable parts
Harare - Air Zimbabwe has been fleeced of spare parts worth more than $3 billion (US$ 200 million at unofficial exchange rate) in a scam involving senior managers at the national airline, ZimOnline has established. Investigations show that in the last six months alone at least 332 various components were stripped from the state carrier's ageing planes and sent out of the country, ostensibly for repairs. The parts can not be accounted for because they were allegedly sold by senior managers who are said to have set up a thriving racket selling air craft spares to foreign dealers. Air Zimbabwe acting managing director Tendai Mujuru refused to speak on the matter saying, 'I am sorry I cannot help you with that kind of information. I do not comment on anything to do with Air Zimbabwe. Please give me time to do my work. I cannot comment on things that newspapers want to write on.' Documents shown to ZimOnline outlined how the airline's avionics department would routinely send aircraft components for repairs to Europe and other countries in Africa. A number of these were never returned to Air Zimbabwe because they were allegedly sold by the repair companies when the airline failed to pay. In most cases the parts vanished."
Mail and Guardian Online: Twenty-nine starve to death in Bulawayo in July
Mail and Guardian Online: Twenty-nine starve to death in Bulawayo in July: "Twenty-nine starve to death in Bulawayo in July
Harare
08 August 2004 12:49
advertisement
Famine has claimed the lives of 152 people, mostly children, in the western Zimbabwe city of Bulawayo, it was reported in Harare on Sunday.
The weekly independent Standard newspaper quoted Bulawayo health department records, saying that 29 people had died of malnutrition in July."
Harare
08 August 2004 12:49
advertisement
Famine has claimed the lives of 152 people, mostly children, in the western Zimbabwe city of Bulawayo, it was reported in Harare on Sunday.
The weekly independent Standard newspaper quoted Bulawayo health department records, saying that 29 people had died of malnutrition in July."
Tuesday, August 03, 2004
Daily News - Calling all Zimbabwe pensioners
Daily News - Calling all Zimbabwe pensioners: "Calling all Zimbabwe pensioners
August 2, 2004
A Zimbabwe Pensioners Association has been formed under the auspices of the Flame Lily Foundation of South Africa.
The aim is both to alleviate the plight of those whose pension has become worthless and are without alternative means of support, and to bring pressure on the Zimbabwe government to honour its pension obligations abroad.
Zimbabwe/Rhodesian pensioners and annuitants, widows and others interested should write to the ZPA, PO Box 1884, Pinetown, 3600, providing the following information: full name, postal address, telephone number, e-mail address if available, pension fund, pension number, date of last payment received and last amount received (Zimbabwe dollars).
If the pensioner is critically in need of assistance, this should also be stated.
Edward Osborn
Zimbabwe Pensioners Association"
August 2, 2004
A Zimbabwe Pensioners Association has been formed under the auspices of the Flame Lily Foundation of South Africa.
The aim is both to alleviate the plight of those whose pension has become worthless and are without alternative means of support, and to bring pressure on the Zimbabwe government to honour its pension obligations abroad.
Zimbabwe/Rhodesian pensioners and annuitants, widows and others interested should write to the ZPA, PO Box 1884, Pinetown, 3600, providing the following information: full name, postal address, telephone number, e-mail address if available, pension fund, pension number, date of last payment received and last amount received (Zimbabwe dollars).
If the pensioner is critically in need of assistance, this should also be stated.
Edward Osborn
Zimbabwe Pensioners Association"
Monday, August 02, 2004
Haaretz - Israel News
Haaretz - Israel News: "`It's a myth that we are anti-Israel'
By Peter Hirschberg
South Africa's new ambassador in Tel Aviv says he's serious about rebuilding the relationship between the two countries, but says the onus is on Israel.
Major General Fumanekile Gqiba unhesitatingly confesses he had absolutely no desire to come to Israel. He was ready, he says, 'to go anywhere in the world, but not Israel.'"
By Peter Hirschberg
South Africa's new ambassador in Tel Aviv says he's serious about rebuilding the relationship between the two countries, but says the onus is on Israel.
Major General Fumanekile Gqiba unhesitatingly confesses he had absolutely no desire to come to Israel. He was ready, he says, 'to go anywhere in the world, but not Israel.'"
Sunday, August 01, 2004
News
News: "Mbeki's plan for land redistribution brings angry response from whites
By Basildon Peta in Johannesburg
30 July 2004
The South African government is considering new regulations to limit foreign ownership of property in South Africa, in a move that would directly affect British investors.
The proposed measures, which are still being worked out by the government, are an attempt to deal with soaring property prices caused by rich foreigners buying properties in South Africa, pushing local people out of the market. A large number of Britons, have bought homes in Cape Town, taking advantage of the strong pound against the South African rand."
By Basildon Peta in Johannesburg
30 July 2004
The South African government is considering new regulations to limit foreign ownership of property in South Africa, in a move that would directly affect British investors.
The proposed measures, which are still being worked out by the government, are an attempt to deal with soaring property prices caused by rich foreigners buying properties in South Africa, pushing local people out of the market. A large number of Britons, have bought homes in Cape Town, taking advantage of the strong pound against the South African rand."
VOANews.com
VOANews.com: "Long Standing Zimbabwe Private School Faces Closure
Tendai Maphosa
Harare
30 Jul 2004, 13:06 UTC
Maphosa report - Download 262k (RealAudio)
Listen to Tendai Maphosa's report from Harare (RealAudio)
One of Zimbabwe's oldest private schools could be the first casualty of a standoff over fees between private schools and the Education Ministry. The board of Eaglesvale Junior and High Schools has put the school on provisional voluntary liquidation, which means the schools will close when they run out of funds.
The chairman of the board of trustees at the school, Deon Theron, said they have been forced into taking what he called the drastic step, as the school was struggling to make ends meet. "
Tendai Maphosa
Harare
30 Jul 2004, 13:06 UTC
Maphosa report - Download 262k (RealAudio)
Listen to Tendai Maphosa's report from Harare (RealAudio)
One of Zimbabwe's oldest private schools could be the first casualty of a standoff over fees between private schools and the Education Ministry. The board of Eaglesvale Junior and High Schools has put the school on provisional voluntary liquidation, which means the schools will close when they run out of funds.
The chairman of the board of trustees at the school, Deon Theron, said they have been forced into taking what he called the drastic step, as the school was struggling to make ends meet. "
Sunday, July 25, 2004
ZWNEWS.com - linking the world to Zimbabwe
ZWNEWS.com - linking the world to Zimbabwe: "By Anton La Guardia
Archbishop Pius Ncube speaks slowly and softly, yet this Zimbabwean priest has become the loudest voice of defiance against the injustices of Robert Mugabe. The Zimbabwean president's political rivals are harassed, imprisoned and tortured; independent newspapers have been closed down; the population as a whole is being cowed by economic collapse and food shortages. "
Archbishop Pius Ncube speaks slowly and softly, yet this Zimbabwean priest has become the loudest voice of defiance against the injustices of Robert Mugabe. The Zimbabwean president's political rivals are harassed, imprisoned and tortured; independent newspapers have been closed down; the population as a whole is being cowed by economic collapse and food shortages. "
VOANews.com
VOANews.com: "Black market currency trading, which disappeared in January, has reappeared with a vengeance. The U.S. dollar is selling more than 30 percent higher than at legal auctions at the Central Bank. The shortage of foreign currency for the private sector is now at an all time high.
The U.S. dollar was selling for 5,355 Zimbabwe dollars at the Central Bank auctions on Thursday. On the street Friday among informal traders, the rate was 7,000 Zimbabwe dollars. "
The U.S. dollar was selling for 5,355 Zimbabwe dollars at the Central Bank auctions on Thursday. On the street Friday among informal traders, the rate was 7,000 Zimbabwe dollars. "
Saturday, July 24, 2004
Zimbabwe Information Centre - News
Zimbabwe Information Centre - News: "In Zimbabwe, Jews carry on after fire destroys biggest shul
[this article published in October 2003)
By Moira Schneider
Cape Town - Anti-Semitism doesnt appear to have played a factor in the burning of a Zimbabwean synagogue the day before Yom Kippur - but the same cant be said for a letter that followed the blaze. Barely a week after the Oct. 4 fire, which completely destroyed the 90-year-old landmark in the city of Bulawayo except for its foyer and facade, a controversial letter written under the pseudonym 'Busybody' appeared in the Bulawayo Chronicle"
[click here for full story]
[this article published in October 2003)
By Moira Schneider
Cape Town - Anti-Semitism doesnt appear to have played a factor in the burning of a Zimbabwean synagogue the day before Yom Kippur - but the same cant be said for a letter that followed the blaze. Barely a week after the Oct. 4 fire, which completely destroyed the 90-year-old landmark in the city of Bulawayo except for its foyer and facade, a controversial letter written under the pseudonym 'Busybody' appeared in the Bulawayo Chronicle"
[click here for full story]
Wednesday, July 21, 2004
FORWARD : News
FORWARD : News: "Out of Africa: Zimbabwean Jewry Faces Extinction
Political Crisis Hits Home as Hunger Spreads
By DAVID SAKS
FORWARD CORRESPONDENT
JOHANNESBURG, South Africa - Political turmoil in neighboring Zimbabwe is threatening southern Africa's second-largest Jewish community with extinction.
Zimbabwe, once the breadbasket of sub-Saharan Africa, has rapidly become a basket case in recent years, as the regime of President Robert Mugabe has resorted to ever more extreme measures to remain in power. Political repression is rampant, the economy is in tatters and hunger is widespread."
[FOR FULL STORY - CLICK HERE]
(THIS ARTICLE WAS PUBLISHED IN JULY 11, 2003 )
Political Crisis Hits Home as Hunger Spreads
By DAVID SAKS
FORWARD CORRESPONDENT
JOHANNESBURG, South Africa - Political turmoil in neighboring Zimbabwe is threatening southern Africa's second-largest Jewish community with extinction.
Zimbabwe, once the breadbasket of sub-Saharan Africa, has rapidly become a basket case in recent years, as the regime of President Robert Mugabe has resorted to ever more extreme measures to remain in power. Political repression is rampant, the economy is in tatters and hunger is widespread."
[FOR FULL STORY - CLICK HERE]
(THIS ARTICLE WAS PUBLISHED IN JULY 11, 2003 )
Tuesday, July 20, 2004
Subject: Zambia gains as Zimbabwe loses out
Sent: Monday, July 19, 2004 4:36 PM
Subject: Zambia gains as Zimbabwe loses out
Zambia gains as Zimbabwe loses outLivingstone, Zambia 19 July 2004 13:51
As one gapes in awe from the Zambian side at the mighty Zambezi River cascading over the Victoria Falls, roaring at a rate of about 900 cubic metres per second, it is not difficult to understand why the locals believe that the falls -- regarded as one of the seven natural wonders of the world -- embody the soul of a powerful deity whom they refer to as Nyaminyami.And as one glances around at the growing number of foreign tourists -- a veritable mini league of nations -- also taking in this magnificent sight, one cannot help but wonder whether this great river god is perhaps not favouring the Zambians over their troubled Zimbabwean neighbours.While the Zambian hotels and resorts fronting the river and falls -- which form the border between the two countries once known as the Rhodesias -- are teeming with tourists, it is relatively quiet on the other side of the river."Zimbabwe's political and economic woes have benefited us tremendously," explains one of the locals, adding that tourism has probably been the biggest benefactor. "Because of all the problems there, people are just too scared to go to Zimbabwe these days, so they're coming here to Zambia instead."Not that it's really so bad in the tourist areas there. In fact, they're relatively safe. But the perception exists that it's not a safe place to go to, so the tourists are coming here instead. As a result, tourism and the economy are really beginning to pick up here in Zambia," he says.Evidence of this is reflected in the ubiquitous foreign-exchange bureaux that dot the main streets of Livingstone and the growing number of tourist resorts springing up in and around the former capital, which is just a stone's throw from the almost 2km-wide falls the locals refer to as Mosi-oa-Tunya -- "the mighty smoke that thunders", a reference to the smoke-like spray rising hundreds of metres above the falls, which can be seen from several kilometres away.Not surprising, many of the tourist operators are Zimbabwean, many of whom still live on the Zimbabwean side of the river in the town of Victoria Falls, traversing the border back and forth at the start and end of each day. "It's ironic. A few years ago, Zambians were pouring into Zimbabwe to look for work. Now it's the other way around," my self-appointed guide points out."And agriculturally, we have also benefited. We have opened our doors to many of the white Zimbabwean farmers who have been booted off their land and have even allowed them to bring their Zimbabwean work forces with them because we know that they will help boost our economy and create more jobs in the long run," he adds.Zambia's tobacco production is expected to reach about 18-million kilograms this year compared with just seven million kilograms last year and only three million kilograms in 2002 -- thanks chiefly, analysts say, to the efforts of just 75 former Zimbabwean tobacco farmers, who were apparently given farms by the Zambian government as well as 10-year loans by a locally based foreign bank to buy farming equipment.Zambia is also expecting a massive expansion in maize and wheat production. The pick-up in tourism and the growth in agriculture after a severe drought in 2002, which resulted in food shortages, is good news for an economy that has long been overly dependent on mining. While the country remains heavily dependent on copper and cobalt mining -- boosted by the recent surge in the copper price -- and its efforts to diversify its production base towards a bigger manufacturing sector have not proved very successful, its economic growth is encouraging.In 2002 Zambia's economy grew by 3,3% and in 2003 by 4,2%. This year, it is expected to grow by 3,5% and next year by 4,5%.Historically, Zambia has suffered from high inflation, which reached hyper-inflationary levels in the early 1990s. But, in recent years, it has fallen to more manageable levels, albeit -- as one analyst points out -- just above 20%. Encouragingly, the International Monetary Fund expects consumer inflation to average 18,5% in 2004 and 17,5% in 2005. The Bank of Zambia, the country's central banker, has set an ambitious year-end target of 15%.On the negative side, the country has suffered a persistent deficit on the current account of the balance of payments. In 2003, the current account deficit exceeded $600-million, according to the central bank.Despite a booming copper price, the country registered a negative trade balance of $242-million in 2003 -- essentially because of imports of machinery and capital equipment for the mining industry and high oil prices.Zambian copper exports rose by 25,7% to $269,9-million in the second quarter from the first quarter of this year. Despite the increase, Zambia's foreign trade deficit rose to $86,8-million from $71,4-million as the 11,4% rise in non-copper exports to $152,6-million failed to keep pace with the 20,4% increase in imports to $509,3-million. On the positive front, non-traditional exports, such as horticulture and floriculture products, have risen over the past decade and now represent an increasing share of the country's merchandise exports. And earnings from tourism, which received a boost from the solar eclipse in 2001, are expected to contribute strongly to future income -- thanks in large measure to Zimbabwe and its economic woes. -- I-Net Bridge
Subject: Zambia gains as Zimbabwe loses out
Zambia gains as Zimbabwe loses outLivingstone, Zambia 19 July 2004 13:51
As one gapes in awe from the Zambian side at the mighty Zambezi River cascading over the Victoria Falls, roaring at a rate of about 900 cubic metres per second, it is not difficult to understand why the locals believe that the falls -- regarded as one of the seven natural wonders of the world -- embody the soul of a powerful deity whom they refer to as Nyaminyami.And as one glances around at the growing number of foreign tourists -- a veritable mini league of nations -- also taking in this magnificent sight, one cannot help but wonder whether this great river god is perhaps not favouring the Zambians over their troubled Zimbabwean neighbours.While the Zambian hotels and resorts fronting the river and falls -- which form the border between the two countries once known as the Rhodesias -- are teeming with tourists, it is relatively quiet on the other side of the river."Zimbabwe's political and economic woes have benefited us tremendously," explains one of the locals, adding that tourism has probably been the biggest benefactor. "Because of all the problems there, people are just too scared to go to Zimbabwe these days, so they're coming here to Zambia instead."Not that it's really so bad in the tourist areas there. In fact, they're relatively safe. But the perception exists that it's not a safe place to go to, so the tourists are coming here instead. As a result, tourism and the economy are really beginning to pick up here in Zambia," he says.Evidence of this is reflected in the ubiquitous foreign-exchange bureaux that dot the main streets of Livingstone and the growing number of tourist resorts springing up in and around the former capital, which is just a stone's throw from the almost 2km-wide falls the locals refer to as Mosi-oa-Tunya -- "the mighty smoke that thunders", a reference to the smoke-like spray rising hundreds of metres above the falls, which can be seen from several kilometres away.Not surprising, many of the tourist operators are Zimbabwean, many of whom still live on the Zimbabwean side of the river in the town of Victoria Falls, traversing the border back and forth at the start and end of each day. "It's ironic. A few years ago, Zambians were pouring into Zimbabwe to look for work. Now it's the other way around," my self-appointed guide points out."And agriculturally, we have also benefited. We have opened our doors to many of the white Zimbabwean farmers who have been booted off their land and have even allowed them to bring their Zimbabwean work forces with them because we know that they will help boost our economy and create more jobs in the long run," he adds.Zambia's tobacco production is expected to reach about 18-million kilograms this year compared with just seven million kilograms last year and only three million kilograms in 2002 -- thanks chiefly, analysts say, to the efforts of just 75 former Zimbabwean tobacco farmers, who were apparently given farms by the Zambian government as well as 10-year loans by a locally based foreign bank to buy farming equipment.Zambia is also expecting a massive expansion in maize and wheat production. The pick-up in tourism and the growth in agriculture after a severe drought in 2002, which resulted in food shortages, is good news for an economy that has long been overly dependent on mining. While the country remains heavily dependent on copper and cobalt mining -- boosted by the recent surge in the copper price -- and its efforts to diversify its production base towards a bigger manufacturing sector have not proved very successful, its economic growth is encouraging.In 2002 Zambia's economy grew by 3,3% and in 2003 by 4,2%. This year, it is expected to grow by 3,5% and next year by 4,5%.Historically, Zambia has suffered from high inflation, which reached hyper-inflationary levels in the early 1990s. But, in recent years, it has fallen to more manageable levels, albeit -- as one analyst points out -- just above 20%. Encouragingly, the International Monetary Fund expects consumer inflation to average 18,5% in 2004 and 17,5% in 2005. The Bank of Zambia, the country's central banker, has set an ambitious year-end target of 15%.On the negative side, the country has suffered a persistent deficit on the current account of the balance of payments. In 2003, the current account deficit exceeded $600-million, according to the central bank.Despite a booming copper price, the country registered a negative trade balance of $242-million in 2003 -- essentially because of imports of machinery and capital equipment for the mining industry and high oil prices.Zambian copper exports rose by 25,7% to $269,9-million in the second quarter from the first quarter of this year. Despite the increase, Zambia's foreign trade deficit rose to $86,8-million from $71,4-million as the 11,4% rise in non-copper exports to $152,6-million failed to keep pace with the 20,4% increase in imports to $509,3-million. On the positive front, non-traditional exports, such as horticulture and floriculture products, have risen over the past decade and now represent an increasing share of the country's merchandise exports. And earnings from tourism, which received a boost from the solar eclipse in 2001, are expected to contribute strongly to future income -- thanks in large measure to Zimbabwe and its economic woes. -- I-Net Bridge
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