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Zim reconstruction $1bn a year
03/04/2008 17:38 - (SA)
London - Zimbabwe needs more than $1bn a year in reconstruction aid and Britain is working with the United States, European Union, World Bank and IMF on a recovery plan, a government source said on Thursday.
Once prosperous Zimbabwe has suffered economic collapse under President Robert Mugabe, who faces the biggest crisis of his 28-year rule after a strong showing by the opposition in last Saturday's election.
Former colonial ruler Britain has said it is ready to help Zimbabwe if it judges the country has returned to democracy.
"We are working with the World Bank and other donors in preparing to support recovery as soon as positive political change comes," a spokesperson for Britain's department for international development said.
In the event of "continued decline", Britain was also involved in "contingency planning for a worsening humanitarian crisis", he said.
British experts estimate Zimbabwe will need three times the $350m a year in international aid that currently flows to the country to help it get back on its feet after years of economic decline, the source said.
That means it would need more than $1bn a year in international aid for "at least a few years", he said.
"We've been working together with the EU, US, World Bank and IMF to see how we can help," he added.
Zimbabwe's opposition Movement for Democratic Change won the parliamentary election but no results have yet been released for the presidential vote. Zimbabwe's ruling party expects a runoff election and is confident Mugabe will retain power, deputy information minister Bright Matonga said on Thursday.
Economy the priority
Mugabe accuses Western countries, especially Britain and the United States, of sabotaging Zimbabwe's economy and working with the opposition to oust him over his controversial policy of seizing white-owned farms for redistribution to blacks.
The source said details of any aid package would depend on Zimbabwe's assessment of its needs, but said a priority would be to stabilise the economy. Zimbabwe is suffering the world's highest inflation at more than 100 000%, a virtually worthless currency and shortages of food and fuel.
Other priority areas were likely to be health, education and improving neglected infrastructure as well as justice and human rights, the source said.
British Foreign Secretary David Miliband told parliament this week that the world had to be ready when it had a "partner government" in Harare with comprehensive economic, social, political and security measures to rehabilitate the country.
"We know the Zimbabwean people face a massive rebuilding task. We will help them do that with EU and international colleagues. But that can only happen when and if there is a return to real democracy," he said.
He said he expected Zimbabwe to be discussed at IMF meetings in Washington next week.
Britain has pledged £s;45m in humanitarian aid to Zimbabwe this year. It channels aid through the United Nations and charities, shunning the government.
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