South Africa’s spokesman for the finance ministry, Jabulani Sikhakhane, said today that his country denied Zimbabwe a US 1.2 Billion line of credit because it simply doesn’t have it.
“South Africa doesn’t have that kind of money,”
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South Africa’s officials have also expressed fears that Zimbabwe won’t be able to pay back. SA has therefore decided to offer help in ways that don’t involve direct exchange of money. It has pledged to assist Zimbabwe through trade and is in discussions with the IMF, World Bank, the African Development Bank (AfDB) and other international development institutions and regional blocs.
Said South Africa’s treasury director general Dondo Mogajane:
“Initially they wanted $1.2-billion. We don’t have $1.2-billion but we have is the will to assist them,”
Zimbabwe asked for the $1.2 billion on 26 December 2018.
More: Mail and Guardian
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