Ho, hum China wonders where the money goes:
The Chinese government is seeking the secondment of its officials to key Zimbabwe parastatals to ensure that Chinese loans for government projects are not lost to “leakages”, it emerged this week.A Chinese delegation was in Zimbabwe to lay the groundwork for the implementation of economic agreements signed in August by the two countries. There are now concerns from some government officials that the Chinese government is angling for a greater stake in, and control of, Zimbabwe’s natural resources and government entities before the agreements are implemented.


Mugabe went to China seeking a $4-billion rescue package, but other than the memorandums of understanding, he came back empty- handed.
The Chinese are also said to have been unhappy with Zimbabwe’s failure to repay previous loans. Sinosure, a leading Chinese insurance company, is reportedly refusing to guarantee loans from Chinese banks to Zimbabwean companies.
By the end of last year, Zimbabwe’s interest on loans stood at $60-million, according to government officials.
Link:http://mg.co.za/article/2015-01-23-c...-screws-on-zim