Sanctions Cost Us US$98 Billion - Government

During a post-cabinet Media briefing yesterday, Infomation, Publicity and Broadcasting Services minister said the total amount of revenue lost by Zimbabwe because of sanctions imposed by the west was in excess of US$98 Billion.  The Herald reports that the Minister said:

… Zimbabwe had lost at least US$42 billion in revenue over the past 18 years due to the sanctions

It is also believed that Zimbabwe lost bilateral donor support estimated at US$4,5 billion annually, since 2001.

A total of US$12 billion in loans from the IMF, the World Bank and African Development Bank as well as commercial loans worth US$18 billion were also lost on account of the sanctions

The sanctions also brought about an estimated GDP reduction to the tune of US$21 billion

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This report is coming at a time when SADC has set aside 25 October as a day to protest against sanctions against Zimbabwe. Foreign Minister General SB Moyo was quoted by the same publication saying they are compiling a report about sanctions on Zimbabwe and they are going to publicize it within the region.

The US maintains sanctions are against 65 individuals and 56 companies and not against the ordinary Zimbabwean.

More: The Herald