Southern Africa: SA to Throw Zimbabwe Lifeline As IMF Baulks

Johannesburg — SA IS set to grant cash-strapped Zimbabwe a substantial line of credit, following the visit to SA of a high-level Zimbabwean delegation last week, and amid growing signs that Harare faces expulsion from the International Monetary Fund (IMF).

Sources said yesterday that the Zimbabwean delegation met with Finance Minister Trevor Manuel and Reserve Bank governor Tito Mboweni, and that the country was likely to soon obtain a credit line for electricity, petrol and food. It was unlikely the amount involved would be anything close to the R6,5bn mentioned in weekend media reports.

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