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Jul 25,2007
Zimbabwe's Mugabe talks nationalization
by UPI

HARARE, Zimbabwe -- Hard-line Zimbabwean President Robert Mugabe wants to nationalize foreign banks and mining companies in the impoverished nation, the BBC reports.

Inflation is running near 5,000 percent, basic commodities are in short supply and an estimated 3,000 Zimbabweans are leaving the country for neighboring states each day, the BB said.

Mugabe's plan was to be unveiled in his opening remarks to parliament, and the report said Mugabe will also push legislators to choose the next president without a national vote, which is scheduled for next March.

Mugabe was once hailed for his progress in bringing the country out of poverty, but he then invoked land reforms that took farms away from whites and gave it to black Zimbabweans. Aid officials said because the Zimbabweans had no training, the farms mostly all foundered. That created major food shortages, although Mugabe refused to accept international aid.

Mugabe claims Britain and the United States are trying to destroy the country in retaliation for his reforms, the report said.

Copyright © 2007, by United Press International. All Rights Reserved.

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Related news
Businesses to hand power to Zimbabweans by UPI posted on Mar 10,2008

Mugabe faces challenge from within by UPI posted on Feb 05,2008

Court to hear election case, not sure when by UPI posted on Apr 07,2008

Mugabe warns of possible war in vote flap by UPI posted on Jun 13,2008

Mugabe said ready to 'fight to the last' by UPI posted on Apr 04,2008

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