As we mentioned previously, Bobby Mugabe has not only trashed the economy of Zimbabwe, but has also hocked everything else to Libya to pay for oil. Since this dual disaster strategy means he can't come up with the vigorish, the legbreakers are looming:
Zimbabwe's fuel crisis intensified this week amid reports that Libya had turned off its supply following non-payment.I'm surprised they didn't think to blame the US or UK. That probably comes later when Bobby demands a handout.
Zimbabwe has experienced recurrent fuel shortages since 2000 and Libya has supplied 70% of Harare's fuel needs since August last year.
President Robert Mugabe recently visited Tripoli to hammer out a new deal with Libyan leader Muammar Gaddafi. Although Mugabe tried to renew the $360-million (about R3.6-billion) deal with Gaddafi, the Libyan oil company TamOil, in which the Libyan government is a major shareholder, called in its $63-million debt.
TamOil is believed to have told Mugabe that fuel deliveries would resume only upon payment.
The fuel crisis is set to worsen as financing agreements signed with other suppliers expire in a fortnight - and the chances of their renewal are minimal because of Zimbabwe's foreign exchange shortage.
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But despite the overwhelming evidence of mounting fuel shortages, Mugabe's government insists fuel supplies are adequate and claims the "artificial shortages" are due to hoarding by traditional distributors".
