Zimbabwe 'declared' fifth most failed state in the world

Zimbabwe 'declared' fifth most failed state in the world
Published: 2012 June 24 20:25:37 (12040 Views)
HARARE - Zimbabwe is living to the reputation of African countries "blessed" with huge diamond deposits yet their citizens remain poor.

Despite claiming to hold the world's biggest diamond deposits, Zimbabwe is one of the most failed states, at least according to Foreign Policy magazine, a United States-based research and publishing group.

The group put Zimbabwe as the fifth most failed state in the world for 2012, according to its top 10 most failed states index released recently. The non-profit group ranks 177 nations annually for their stability, human flight and abuse, economic decline, security and external intervention measures.



Zimbabwe claims Marange diamond deposits account for more than 25 percent of world diamond reserves and could last for 21 years at full exploitation. Yet the country has failed to back 18 percent of its cash budget from diamond proceeds as planned due to a lack of transparency and accountability on Marange mining activities. This has left social infrastructure such as public hospitals and schools that are in dire need of funding reeling.

Finance minister Tendai Biti had planned to use $600 million from diamond proceeds to support this year's $4 billion budget but says the money has not been forthcoming. Biti says the biggest miner in Marange, Anjin Investments, which is a joint venture between the Chinese government and Zimbabwe's government, has failed to remit a cent despite selling huge stockpiles. Prime Minister Morgan Tsvangirai told Parliament yesterday that treasury had only received $25 million from other firms mining there.

African countries rich in natural resources but whose people live in poverty include Democratic Republic of Congo and Ivory Coast. The Foreign Policy magazine ranked war-ravaged Somalia last. 



Source - ZimKasi

 0

You May Like These Videos

Comments

| Comment With Facebook Submit

There are no comments.

News Big Reads

Bird Box finally unveils unknown monsters

by Metro | 2019 January 06 00:20:32 | 7921 Views

Man in critical condition after 'blowing himself up while trying to raid ATM'

by June Mpofu | 2018 December 11 19:39:39 | 17402 Views

Murder suspect pretending to be mute loses voice from underuse

by June Mpofu | 2018 December 11 19:39:46 | 13618 Views

Harrods accidentally sold £1,000 bags for less than £10

by June Mpofu | 2017 December 16 15:42:54 | 13414 Views

Rapper 'whips out' manhood on Instagram

by June Mpofu | 2017 October 31 08:36:03 | 15076 Views

Woman raped in the street as people walk past

by June Mpofu | 2017 October 27 22:04:42 | 15631 Views

Student who inhaled 360 laughing gas canisters in a week may never walk again

by June Mpofu | 2017 October 20 08:05:52 | 15426 Views

Poet tweets that she was raped by SA musician

by Hope Freedom | 2017 October 07 23:02:51 | 15978 Views

Dog bites off chunk of woman's face

by June Mpofu | 2017 September 23 09:04:56 | 14916 Views

Man jailed after tricking children into abusing young relatives

by Prince Cox | 2017 September 06 08:00:14 | 16244 Views

'I gave lift to a ghost' says taxi driver

by June Mpofu | 2017 September 04 18:39:39 | 31690 Views

Son 'stabbed mum to death and ate her heart with a side of chutney'

by June Mpofu | 2017 September 01 20:10:25 | 16864 Views

'Cannibal tired of eating human flesh' hands himself in

by June Mpofu | 2017 August 24 07:59:37 | 15202 Views

Man cut off pregnant girlfriend's nipples with a pair of scissors

by June Mpofu | 2017 August 20 10:24:38 | 16559 Views

Pregnant woman murdered in 'satanic ritual'

by June Mpofu | 2017 August 20 01:27:16 | 17469 Views

No diplomatic immunity for Grace Mugabe after 'splitting open model's head'

by Hope Freedom | 2017 August 15 08:30:38 | 20436 Views

8-year-old dies after cousin dares her to drink boiling water through straw

by June Mpofu | 2017 August 05 10:10:31 | 17260 Views

Girl, 14, was raped twice in one night by different men

by June Mpofu | 2017 July 29 17:06:36 | 16692 Views

Girl, 10, told she can't have abortion after being raped by uncle

by Hope Freedom | 2017 July 22 16:54:59 | 17229 Views

Obsessive woman chases police car helping boyfriend escape her

by June Mpofu | 2017 July 15 21:27:10 | 14011 Views

Man hijacked while peeing

by June Mpofu | 2017 July 08 10:46:55 | 20494 Views

Disabled woman tied to tractor and beaten to death by mob

by Hope Freedom | 2017 July 03 23:10:47 | 21421 Views

Man spends 5 years renovating boat, it sinks as soon as it goes on water

by June Mpofu | 2017 June 30 22:42:43 | 14051 Views

Woman paralysed after having sex

by June Mpofu | 2017 June 26 21:03:25 | 16649 Views

Woman cuts off boyfriend's privates 'after he refused to marry her'

by Prince Cox | 2017 June 24 20:36:31 | 21350 Views

Cancer patient charged with plotting to kill doctors

by June Mpofu | 2017 June 08 09:57:59 | 14976 Views

Former Premier League star dies after collapsing in training

by June Mpofu | 2017 June 05 18:08:44 | 21442 Views

Mugabe 'will decide who goes to heaven' says Zanu-PF youth leader

by June Mpofu | 2017 June 03 09:04:32 | 15192 Views

Daughter had sex with father to stop him from marrying fiancee

by June Mpofu | 2017 June 01 17:52:29 | 16392 Views

Man splits from wife who raped him as boy

by June Mpofu | 2017 May 31 11:53:24 | 18683 Views

Human head trial set to go ahead after delay

by June Mpofu | 2017 May 30 21:23:34 | 15013 Views

American girl, 11, forced to marry rapist

by June Mpofu | 2017 May 29 14:28:03 | 17064 Views

Fed up residents hold Mayor hostage

by June Mpofu | 2017 May 25 08:51:43 | 15835 Views

Homeless hero who pulled nails out of children's faces is given a home

by Prince Cox | 2017 May 24 20:11:55 | 16655 Views

Heartbroken wife dies after husband's mistress sent her indecent pictures

by Prince Cox | 2017 May 22 08:35:57 | 37158 Views

Father jailed after raping daughter for 20 years

by Hope Freedom | 2017 May 20 09:51:11 | 18564 Views

Driver miraculously unharmed after lorry completely crushes his BMW

by June Mpofu | 2017 May 20 09:59:37 | 14824 Views

Saddam Hussain arrested for pretending to be Osama Bin Laden

by June Mpofu | 2017 May 16 23:42:36 | 14355 Views

Student left with painful scars after tattoo removal goes wrong

by June Mpofu | 2017 May 15 20:45:37 | 18073 Views

Three people die of Ebola in the Democratic Republic of Congo

by June Mpofu | 2017 May 12 15:31:35 | 15194 Views

'Shoplifter' bleeds to death after falling on 'stolen' bottles

by June Mpofu | 2017 May 09 21:49:08 | 18310 Views

82 Chibok schoolgirls freed by Boko Haram

by June Mpofu | 2017 May 07 09:19:48 | 35854 Views

Woman arrested after biting love rival's privates

by June Mpofu | 2017 May 06 19:03:59 | 14549 Views