Zimbabwe, South Africa In Talks Over Financial Package

Zimbabwe and South Africa yesterday agreed to pursue negotiations over possible financial  packages to be extended to the central bank and the local private sector, as part of efforts by Pretoria to assist Harare turn around its  economy.

In a communiqué released at the end of  the third Zimbabwe-South Africa Bi-National Commission (BNC), the two countries agreed to consider options for increasing the facility arrangement between the nations’ central banks. Part of the communiqué reads:

The two sides agreed to consider options for expanding the standing  facility arrangement between parties’ Central Banks, other financing  options beyond this are also being explored for example a facility from  South African private banks to the Zimbabwean private sector and  guaranteed by the South African government with an appropriate counter  guarantee from the Zimbabwean government.

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