Zim pursues SA, Botswana loans

Zim pursues SA, Botswana loans
Published: 07 February 2014

Financially-squeezed Zimbabwe government is still pursuing over $200 million in loans, pledged by regional countries nearly 5 years ago, to revive its stuttering economy.

In 2009, following the formation of a coalition government between long-time rivals President Mugabe and Morgan Tsvangirai, regional countries - including Angola, Botswana and South Africa - promised to bail out the country.

SA pledged a $100 million credit line while Angola promised $50 million and Botswana $70 million.

However, the funds are yet to be released. Jonah Mushayi, Finance ministry's acting director for fiscal policy, on Wednesday said the country was pursuing the promised loans among various funding options "to help improve basic services and rebuild the deteriorating infrastructure."
- dailynews
Tags: Botswana, Loans,


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