Botswana, SA demand bail out security from Zimbabwe

The government's increasingly desperate quest to secure critically-needed bailout packages has hit fresh snags, with neighbouring South Africa and Botswana demanding hefty guarantees for their loans due to Zimbabwe's high default risk.

This comes after it recently emerged that Pretoria had late last year turned down request from Harare for an urgent $1,2 billion loan - for various reasons, including Zimbabwe's poor risk profile and loan repayment record, as well as challenges related to South Africa's own stuttering economy.

More to follow....