Financial Times FT.com

Zimbabwe turns to China for $950m credit line

By Tony Hawkins in Harare and Richard Lapper in Johannesburg

Published: July 1 2009 03:43 | Last updated: July 1 2009 03:43

The coalition government in Harare is discussing a credit line of almost $1bn with China, after Morgan Tsvangirai, Zimbabwe’s prime minister, secured less funding than had been hoped during a three-week trip to Europe and the US.

Mr Tsvangirai told a press conference in Harare on Tuesday that Tendai Biti, his finance minister, had negotiated a $950m deal, although an official at the Chinese embassy said the arrangement was “still under discussion”.

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