South African president, Kgalema Motlanthe told reporters in Cape Town
today, following their meeting with the Zimbabwean delegation, that
talks are expected to continue next week between the two countries’
ministers on an emergency plan.
He was optimistic that by the end of next week there will be clarity on how South Africa could respond to Zimbabwe’s request.
Zimbabwe’s economic bail out is estimated to carry a cost of around US$
5 billion in the short term and the delegation, led by newly appointed
Prime Minister Morgan Tsvagirai, was hoping for at least $1 billion for
its neighbour.
As the new regime in Zimbabwe faces a huge mountain of challenges
brought about by years of administrative neglect and policies shooting
from the hip, the government will also be looking at strengthening laws
as a way fo reattracting foreign direct investment in the battered
Southern African state.
Mr Tsvangirai told reporters in Cape Town today that his country needed
urgent short-term interventions to kick start the economy.
Zimbabwe still faces a number of targeted sanctions from the western
countries, who have expressed a desire to wait and watch as the
functionality of the newly formed unity government unfolds.