Zimbabwe: Botswana pledges credit line as SADC funding deadline expires

source: SW Radio Africa
By Alex Bell
16 April 2009

Botswana’s government has pledged a US$70 million credit line to Zimbabwe, days after a deadline set by the Southern African Development Community (SADC) for members to pledge financial aid to Zimbabwe ran out on Tuesday.

A Botswana delegation, led by the secretary for Economic and Financial Policy Taufila Nyamadzabo, made the pledge on Thursday during a visit to Zimbabwe. Nyamadzabo said the global financial crisis, which has seen the purse strings of most government’s tighten, was keeping Botswana from doing more. The credit line pledge has been welcomed, but it is not the cash boost Zimbabwe’s government has been hoping and working for. SADC leaders have urged African nations to pledge financial aid to Zimbabwe’s government and two weeks ago set the deadline for the country’s to add their pledges to an economic rescue package.

But that deadline passed on Tuesday night and it is still not clear what African governments have pledged to the package – if anything. SADC members have been just as unwilling as [continue reading]

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