Zimbabwe seeks R3bn loan from SA
Sep 9, 2010 |
Reuters |
46
comments
HARARE - Zimbabwe is seeking R3,2billion in an overdraft and credit facility from South Africa as the country battles to reverse the effects of a decade-long political and economic crisis, Finance Minister Tendai Biti said yesterday.
A power-sharing government set up last year by bitter rivals President Robert Mugabe, pictured, and Prime Minister Morgan Tsvangirai has stabilised an economy ravaged by hyperinflation, which peaked at 500billionpercent in December 2008.
But the government says it needs at least R72billion for reconstruction.
Biti told business executives in Harare that the government was looking to negotiate with South Africa's government for financial assistance after agreeing terms for a R509million credit line with Botswana.
Zimbabwe has so far failed to attract significant funds from Western donors, who are demanding more reforms before providing aid to the unity government.
Sep 9, 2010
Sela
South Africa does not have money to pay its Public Servants at least according to the government in case Tendai Biti did not notice. It will be interesting to see if Zuma government will accede to Bra Bob's governement in the far north. Truth be told, political transformation in Zimbabwe is not at a level where they should be borrowing lots of money for reconstruction. At least they should wait for the election for Bra Bob to leave the government gracefully. That is if he does not rig the election results as usual. As things stand pumping money in Zim will not be a solution. Political transformation is fundamental for any reconstruction to take place. This is not a rocket science.Report Abuse
Sep 9, 2010
Beggar
Eintleik Uncle Bob thinks we are Charity, just a few days ago our Civil servants were marching for decent wages. Uncle Bob Keep your Zimbabwe and let us keep our South Africa.Report Abuse
Sep 9, 2010
Beggar
Eintleik Uncle Bob thinks we are Charity, just a few days ago our Civil servants were marching for decent wages. Uncle Bob Keep your Zimbabwe and let us keep our South Africa.Report Abuse
Sep 9, 2010
Sageville
I'd only agree to that loan if the money was used for free and fair elections in Zim.Lol, like SA can afford to pay for Mugabe's groceries.
Report Abuse
Sep 9, 2010
mangolia
Remember his rants a month ago "Zimbabwe is mine, I'm a Zimbabwean. Now old BOB since Zim is yours and yours only, sort out your own financial problems without the intervention of any state country. South Africa does not have that kind of many. Rather we put that money to upgrade our education and healthcare systems and build more houses for our own poor people.Report Abuse
Sep 9, 2010
purah
Now we have to wait & see if ZEE Zuma will give him the monies that are supposed to be given to public workers...Report Abuse
Sep 9, 2010
123out
Zim is seriously getting out of hand.......we took in the people with out complainging lended money to them....now thy jst want want out our heads........ SORRY UNCLE BOB no more money to play around with u....... let white people in the courty mybe thy give u sum................ out!!!!!!!Report Abuse
Sep 9, 2010
mmasebobemponeng
aaa wa hlanya o!! his people are dying of stavation and he doesnt care about 'em!! o batla ho eja ale one ...bloody selfish!!!!!!he can go to hellReport Abuse