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Zimbabwe debt servicing: 2 million litres of fuel has landed

7 October 2012 Zodiak Radio/Malawi Today

As part of servicing a loan Zimbabwe to buy maize from Malawi, Zimbabwe has released of two million litres to the fuel starved southern African country.

The problem has resurfaced in Malawi despite the new government assuring Malawians that the fuel shortage was history and had died along with late Bingu wa Mutharika.

Director of Debt and Aid at the Ministry of Finance Peter Simbani and National Oil Company of Malawi (NOCMA) Chief Executive Officer Robert Mdeza confirmed in separate interviews that about 17 trucks of Diesel had arrived in Malawi from Zimbabwe.

The two countries agreed last month that Zimbabwe would still pay Malawi the maize loan through fuel but worth US$24.1 million and not US$20 million as Harare had earlier thought.

According to Mdeza the next delivery of fuel is expected to arrive into the country mid next week.

However the two million litres would be consumed within three days based on the current demand.

He said another 4.2 million litres of petrol is expected to arrive into the country in the course of the next week.

“We are going to receive another 4.2 million litters of petrol that would be carried from Zimbabwe during this month and another in the subsequent month,” he said.

Reserve bank Governor Charles Chuka recently said Malawians should not panic, saying the resurfacing of the problem is not a result of forex shortage.

For the past three years, Malawi has encountered an acute shortage of fuel and other products owing to shortage in foreign currency, a development that crippled most sectors of the economy.