New President Plans Zimbabwe Revival by Restoring Economy, Democracy
- President who replaced Mugabe wants to end economic isolation
- Funds from bond sale would be used to fund infrastructure
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Zimbabwe’s new president, Emmerson Mnangagwa, has a plan to revive one of the world’s worst-performing economies and end its isolation: pay compensation to white farmers whose land was confiscated, sell bonds to rebuild infrastructure and hold internationally acceptable elections.
It’s a tall order for a man who served more than half a century at the side of former President Robert Mugabe and was a key figure in a government that oversaw an economy that halved in size since 2000 and the collapse of the agricultural industry. Yet, Mnangagwa, a 75-year-old former spy chief, remains optimistic he can win lender support and tap international capital markets.