China says Zimbabwe ‘looters list’ not ‘credible’

China says Zimbabwe ‘looters list’ not ‘credible’

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President Emmerson Mnangagwa

China has said that Zimbabwe’s “looters list” of people who owe the country money is not “credible”, the news site Times Live reports.

On Monday, the country’s president, Emmerson Mnangagwa, released the names of hundreds of companies and individuals who has failed to return $827m (£590m) illegally stashed abroad despite an amnesty.

After taking office last year Mr Mnangagwa gave individuals and companies 90 days to give up the funds but said on Monday that just $591m had been returned.

The list is divided into three categories, of which one is devoted to people who have moved money to China.

Speaking at a media conference in the Zimbabwean capital of Harare, Chinese embassy official Zhao Baogang rejected the list.

“Some of the things are not factual. They would have done better to investigate more and come up with a more credible list‚” he said.

“Some of those people and companies on the list have already regularised their issues with authorities.”

Mr Mnangagwa is expected to visit China in April, a country Zimbabwe has a good trade relationship with.

In 2016, trade between the two countries was worth $900 million though Zimbabwe allegedly owes Chinese banks more than $100 million. – BBC

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