Zimbabwe and South Africa are in talks for a financial bailout. A move aimed at strengthening both countries’ economies, South African President Cyril Ramaphosa has said.
Addressing delegates at the Zimbabwe- South Africa Bi-National Commission conference, on Tuesday, Ramaphosa said the two countries discussed the issue of helping Zimbabwe and were yet to find a workable solution.
“The matters that you are raising, that you referred to as financial assistance, we have discussed that in great detail and our discussions are ongoing and our various teams are busy finding workable solutions.
“Because of the strength of our relationship, we have no doubt what so ever that we are going to find solutions that is going to lead to the strengthening of our two respective economies so that we can address the challenges that both our counties are facing,” Ramaphosa said
In December last year, Zimbabwe approached South Africa for a bail out but the neighbour across the Limpopo turned down the request due to its own pressing needs.
Ramaphosa said the meeting covered a wide range of issues that include investment, as well as trade issues.
“Our discussions at the BNC have covered a wide range of issues and have spent right across the issues that deal with investment, as well as trade, issues that touch on customs, air transport, railways, water, mining, a whole range of issues.
“In fact they have covered up to 45 types of agreements and this has been one `of the most meaningful BNCs that we have had and we did not just specifically touch or focus on one issue,” he said.
He said the two countries would continue dialogue on a number of issues including investments as well as issues that have to do with finance.
“We have focused on a variety of issues and dealt with challenges that really beset both our economies and our countries and have agreed that we are going to have continued dialogue on a number of issues including investments as well as issues that have to do with finance, the economy and with that we think at the BNC level we have formed a very firm foundation of being able to assist one another as the two countries as we traverse a number of challenges and difficulties.
“This is where our continued close relationship as the two countries, our efforts are emboldened and strengthened because there is a deep level of trust, deep- level of being able to work together very cordially even as we have to deal with difficult issues, we found that we are always able to find solutions,” he said.