Mugabe to sell diamonds despite sanctions

Despite the Kimberley Process diamond certification scheme having not authorized international sales amid allegations of killings, human rights violations and corruption in the Eastern Zimbabwe diamond fields, Mugabe has said the diamond sales have "huge potential" to revive the economy.

Zimbabwe can account for one quarter of the world's diamond supply, according to Mugabe, who yesterday said: “No one should doubt our resolve to sell our diamonds.

“We have to remain rooted in the reality we are the sole guarantors of our economic emancipation.”

On Monday, Finance Minister Tendai Biti, said many Zimbabweans were still suffering from malnutrition despite the potential for the country's diamond wealth to restore collapsed social, health and education services and repair the country's agricultural infrastructure.

According to the mines ministry, Zimbabwe already has about $1.7 billion of diamonds in storage ready to be sold, while the country's total international debt is estimated at $5.5 billion.

CRITICISM

Criticism from the west and human rights groups meant that last month’s Kimberly Process meeting, which sought approval for diamond sales, was brought to a standstill.

Mugabe said Zimbabwe's Western adversaries were blocking diamond sales though the “absurd” conditions they wanted to be implemented.

Mugabe critics also argue that the President’s economic policies have contributed to the country’s economic downfall in a decade of political chaos.

Today, the country’s diamond producer status will again come under review at a World Diamond Council meeting in St. Petersburg, Russia.

Edited by Chris Farnell