African bank loans Zimbabwe $100 million to ease credit crunch | Bangkok Post: news

News > World

African bank loans Zimbabwe $100 million to ease credit crunch

- +

The African Export-Import Bank on Saturday announced a $100 million (72 million euro) loan to Zimbabwe's banking sector to ease a credit crunch that has deepened the country's economic woes. 

Zimbabwean dollar bills from the central bank in Zimbabwe on February 2, 2009

"It is a well-known fact that the Zimbabwean banking sector and economy at large are currently experiencing severe liquidity challenges," president Jean-Louis Ekra of the Cairo-based bank said at a ceremony to launch the loan in Zimbabwe's capital Harare.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

0 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments