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Zim Seeks $500m from Afreximbank

Monday, July 2, 2018

THE Reserve Bank of Zimbabwe (RBZ) is negotiating a $500 million funding package with the African Export and Import Bank (Afreximbank), as part of efforts to resolve the foreign currency shortages blighting the economy. Afreximbank has been Zimbabwe’s biggest benefactor since the turn of the century, at a time when most global lenders had stopped extending fresh lines of credit to the southern African nation, either at the behest of Western countries that were livid over the country’s land redistribution programme or over defaulting on earlier loans.

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