News / Africa
SA approves R900m budgetary support to Zimbabwe
15 Apr 2013 at 13:19hrs | Views
South Africa has approved $100m (R905m) in budgetary support to cash-strapped Zimbabwe, which is due to hold elections in the second half of the year, Finance Minister Tendai Biti said on Monday.
Last year, Biti said Harare had approached South Africa and oil-rich Angola for $150 million amid a lack of aid from Western donors who have imposed sanctions on Mugabe and his inner circle over charges of human rights abuses.
"Pursuant to discussions in September 2012, I'm aware the South African cabinet has made a decision and it's a positive decision," Biti told a news conference in Harare.
Biti said he had also made an additional plea to South Africa and Angola to fund elections expected later this year. The government borrowed $40 million domestically to fund a March 16 constitutional referendum.
"It is self-evident that Treasury has no capacity to fund elections. We're not going to borrow again for the elections," he said, repeating his call for foreign funding for polls which have an initial budget of $132 million.
Last year, Biti said Harare had approached South Africa and oil-rich Angola for $150 million amid a lack of aid from Western donors who have imposed sanctions on Mugabe and his inner circle over charges of human rights abuses.
Biti said he had also made an additional plea to South Africa and Angola to fund elections expected later this year. The government borrowed $40 million domestically to fund a March 16 constitutional referendum.
"It is self-evident that Treasury has no capacity to fund elections. We're not going to borrow again for the elections," he said, repeating his call for foreign funding for polls which have an initial budget of $132 million.
Source - Reuters
