Zim loses US$150bn to sanctions
BRIAN SITHOLE
Zimbabwe has lost over US$150 billion through frozen assets, locked donor support and closed trade opportunities caused by sanctions imposed by the United States of America and her allies, Vice President Constantino Chiwenga claimed yesterday.
Chiwenga was addressing civil servants after an anti-sanctions march in Harare where he described the sanctions as heinous.
Harare was slapped with sanctions at the turn of the millennium after undergoing a land reform programme described by the West as violent and in violation of the country’s laws and international statutes.
“The sanctions include financial restrictions and illegal economic measures that alienate Zimbabwe from global finance chains and the global financial system as well as bar capital inflows mainly from the West,” Chiwenga said.
“Since 2001, we estimate that Zimbabwe has lost over US$150bn through frozen assets, trade embargos, export and investment restrictions from potential bilateral donor support, development loans, IMF and World Bank balance of payments, payment support, commercial loans.”
“This has forced our Gross Domestic Product to contract drastically in the two decades that followed the imposition of these heinous and illegal sanctions,” he added.
The government yesterday came up with a packed programme as part of anti-sanctions protests.
October 25 has been set aside as the SADC Anti-sanctions Day where countries in the region have expressed concern over the continued sanctions that authorities say have been choking the country.
Zimbabwe has been hard hit by the sanctions described by the United Nations Special Rapporteur on negative impacts Alena Douhan, as causing “untold suffering” to the people.
In 2021, the Special Rapporteur on the negative impact of unilateral coercive measures on the enjoyment of human rights, visited the country at the invitation of the government where she met several stakeholders that included political actors, banks among others.
She confirmed the drastic impact of sanctions on Zimbabwe and called for their removal.
