Zimbabwe asks for $2B to salvage its economy

CAPE TOWN, South Africa – South Africa’s finance minister says Zimbabwe has asked countries in the region for $2 billion to salvage its collapsed economy and infrastructure.

Trevor Manuel told South African radio that Zimbabwe wanted half to be used for emergencies in education, health and municipal services.

The other half would help kickstart retail and other sectors.

Aid to Zimbabwe is top of the agenda at the 15-nation Southern African Development Community meeting, which started yesterday.

But most southern African nations are themselves reeling from the global economic downturn, and there is skepticism about how the money would be used.

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Republikein 2024-03-28

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Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 220.46/OZ UP +1.36% | Copper US$ 3.99/lb UP +0.03% | Zinc US$ 2 455.50/T UP 0% | Brent Crude Oil US$ 87.58/BBP UP +1.38% | Platinum US$ 907.38/OZ UP +1.40%