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Tuesday, May 2, 2017

TNT UPDATE, 2 MAY

TNT:

Tishwash:  what is R22 billion?  and look at the last sentence  eek!   sooo it wasn't China hmmmm  not this time maybe

Huge financial boost for Zimbabwe

Zimbabwe | 1 May 2017
 
Last week Zimbabwe weekly, The Zimbabwe Independent said the loan was secured 
Harare - Zimbabwe has secured a massive loan to repay the World Bank and African Development Bank.

The loan to pay off the debts was co-ordinated by Cairo-based Afreximbank.

Last week Zimbabwe weekly, The Zimbabwe Independent said the loan was secured by Geneva-based fuel and commodity trader, Trafigura. Trafigura has denied this as has Zimbabwe's central bank governor, John Mangudya.

He said he can't supply names of the lenders, but said they were "co ordinated" by Afreximbank.
 
Harare business site, The Source speculated several international banks were involved in the R22 bn loan, Lazard Bank and Standard Chartered Bank
.
The repayment of loans to World Bank and AFdB will the allow Zimbabwe to fully utilise the International Monetary Fund. Zimbabwe paid off the IMF last October.

Mangudya said the loan was a 'medium term' loan and the price was "quite reasonable."

Zimbabwe's failed economy began to recede – again – after Zanu PF was returned to power in a massive if disputed election victory in 2013.

There has been speculation for months now that Zimbabwe would secure any bail out loan with gold.  link

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