NO SOUTH AFRICAN BAILOUT FOR ZIMBABWE AFTER RAMAPHOSA VISIT

Written by on March 13, 2019

On the foreign scene South African President Cyril Ramaphosa concluded a much-anticipated visit to Zimbabwe yesterday, dashing any lingering hopes that his country would bail out its economically-troubled neighbour.

Ramaphosa, who commended the new administration of Emmerson Mnangagwa for its bid to revive the economy however, promised to explore a number of options of financial help.

Meanwhile, analysts say the president of South Africa made no concrete offer of help, though he voiced a commitment to work with Zimbabwe in addressing the socio-economic challenges.

Last year Zimbabwe requested $1.2 billion in emergency credit from South Africa, the most advanced economy south of the Sahara, even as Pretoria indicated it did not have the funds.


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