SADC finance ministers meet todiscuss Zimbabwe rescue package

Harare (Zimbabwe) Finance Ministers from the Southern African Development Community (SADC) are meeting in South Africa today to discuss a stimulus package to pull Zimbabwe out of a nine-year economic crisis, state media reported here on Tuesday.

The newly-appoionted Finance Minister of Zimbabwe, Tendai Biti is leading a Zimbabwe delegation to the meeting in Cape Town.

The meeting is expected to come up with a financial package to
jump-start Zimbabwe’s economic recovery process. The meeting is being
held ahead of the SADC Council of Ministers’ conference which starts in
the same South African city on Thursday.

South African President and SADC chairman Kgalema Motlanthe at the
weekend said he had called for the special meeting to develop a plan to
help Zimbabwe.

Biti said Zimbabwe was optimistic the region would come to its assistance in terms of budgetary financing and credit lines.

His ministry was working on a short-term economic stabilisation
programme which would be presented at the finance ministers’ meeting,
he said.

"We will present our plans on the way forward in respect of
sustainability, stability and in respect of credible policies. It will
be a saleable presentation," he said.

The SADC finance ministers meeting comes in the wake of last Friday’s
meeting between Motlanthe, Biti and Zimbabwe’s Prime Minister Morgan
Tsvangirai in Pretoria, the South African administrative capital.

Tsvangirai revealed at the meeting that it would take at least US$5 billion to resuscitate Zimbabwe’s economy. – APA

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