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Botswana: Rumors about $600 mln supports to Zimbabwe are unfounded (Carter N. Morupisi)

Thursday, 28 February 2019 15:32
Botswana: Rumors about $600 mln supports to Zimbabwe are unfounded (Carter N. Morupisi)

(Ecofin Agency) - Botswana denies allegations according to which it granted a $600 million credit facility to Zimbabwe. This denial was on February 28, 2019, via Carter N. Morupisi (photo), permanent secretary to Botswana’s president.

The official confirmed discussions between the two countries about multi-sectoral agreements in the framework of a  bi-national commission. However, there was no $600 million loan agreement.

 "[…] Media reports that are currently circulating about the line of credit worth Six Hundred Million United States Dollars that the Government of Botswana has committed itself to extend to the Republic of Zimbabwe are unfounded”, Carter Morupisi indicated in a statement read by Ecofin Agency.

To fund its investments and revive its economy, Zimbabwe is trying to raise new funds. Some weeks ago, South Africa refused to provide a $1.2 billion support Harare requested to fund its projects.

A final communique should be published to provide more details about the outcomes of the binational commission.

Moutiou Adjibi Nourou   

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