Zimbabwe has rallied the Southern African Development Community (SADC) and the African Union to vigorously lobby for the removal of illegal sanctions imposed by the United States and the European Union as the continent continues “to feel the strain of the implosion of the Zimbabwean economy, which continues to reel under these Western sanctions”.

Foreign Affairs and International Trade Minister, Dr Sibusiso Moyo, last month presented a paper to Cabinet, indicating that Zimbabwe lost about US$98 billion due to illegal sanctions imposed after the Land Reform Programme.

According to the paper, which was availed to The Herald yesterday, over the years, Zimbabwe lost an estimated US$42 billion in revenue, US$4,5 billion in bilateral donor support, US$12 billion in loans from international financial institutions, US$18 billion in commercial loans and a GDP reduction of US$21 billion. Read more…

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