HARARE (Reuters) - Zimbabwe has set up an asset management company to buy part of $705 million in non-performing loans from banks, the central bank governor said on Tuesday, in a move to restore stability to a sector that has been whiplashed by rising bad debts. Reserve Bank of Zimbabwe Governor John Mangudya said the newly created Zimbabwe Asset Management Corporation (ZAMCO) had bought $45 million worth of bad debt from three banks as of Aug. 15, although he declined to give further details.