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Harare Looks to Caracas as Potential Source of Low-Cost Petroleum

President Robert Mugabe is looking to Venezuelan President Hugo Chavez to provide low-cost oil to relieve one aspect of Zimbabwe's severe economic crisis, banking on their shared disaffection with the United States and other Western powers.

Deputy Director of Industry and Trade Loice Magade confirmed that her ministry would lead a delegation to Venezuela and also to Brazil, from which Zimbabwe has imported maize. Magade has called on local businesses to take advantage of the occasion.

Reporter Blessing Zulu of VOA’s Studio 7 for Zimbabwe turned to economic consultant Peter Robinson for perspective on the Venezuelan initiative.

More from VOA's Studio 7 for Zimbabwe...