Govt officials say unaware of Zim request for bailout

GOVERNMENT has denied foreign media reports that Zimbabwe has approached Namibia for financial assistance.

In the wake of ongoing negotiations between Zimbabwe and South Africa over a loan of N$3,2 billion to avoid an economic meltdown, the Zimbabwean government is reported to have said that it had also approached Namibia for financial aid. Various Government departments approached by The Namibian said they were unaware of any such developments.”I have never come across it or heard anything like that,” said Secretary to the President Ndeutala Angolo.Similarly, Foreign Affairs Permanent Secretary Veiccoh Nghiwete and Minister of Information and Broadcasting Netumbo Nandi-Ndaitwah said such information had not crossed their desks.”I have no idea.It hasn’t come through Foreign Affairs.Maybe they are still processing their application,” said Nghiwete.Added Nandi-Ndaitwah: “I don’t know about that.It was not brought to my attention”.Finance Permanent Secretary Calle Schlettwein said he was aware of the reports, but the Finance Minister had definitely not been approached to consider such a request.”The State Finance Act is very clear that the Finance Minister has the exclusive power to decide on any borrowing.The buck stops here,” said Schlettwein.Zimbabwe’s High Commissioner to Namibia, Stanislaus Chigwedere, has been quoted in both a local daily and Zimbabwe’s Financial Gazette as having said that discussions were in progress with Namibia for financial assistance.He could not be reached for comment this week, as the Embassy in Windhoek has been closed for two days because of Zimbabwean public holidays.In his Heroes’ Day address on Monday, Zimbabwean President Robert Mugabe was reported to have said that the conditions South Africa was said to have attached to its loan offer are “unacceptable”.South Africa is believed to be insisting that the Zimbabwean government talk to the official opposition, retract its stifling media laws, put economic reform measures in place and a more orderly land reform programme, before granting the loan.Along with Namibia, South African media reports have it that Zimbabwe has also approached Uruguay for financial aid, while the Financial Gazette adds Malaysia, Iran, India and China to the list.Mugabe returned from China last week where his bid to secure a US$1 billion loan to pay for desperately needed fuel, electricity and medicines, was reportedly spurned.Besides much-needed foreign currency, Zimbabwe also urgently needs to repay around US$306 million to the International Monetary Fund, or face being booted out of the institution.Various Government departments approached by The Namibian said they were unaware of any such developments.”I have never come across it or heard anything like that,” said Secretary to the President Ndeutala Angolo.Similarly, Foreign Affairs Permanent Secretary Veiccoh Nghiwete and Minister of Information and Broadcasting Netumbo Nandi-Ndaitwah said such information had not crossed their desks.”I have no idea.It hasn’t come through Foreign Affairs.Maybe they are still processing their application,” said Nghiwete.Added Nandi-Ndaitwah: “I don’t know about that.It was not brought to my attention”.Finance Permanent Secretary Calle Schlettwein said he was aware of the reports, but the Finance Minister had definitely not been approached to consider such a request.”The State Finance Act is very clear that the Finance Minister has the exclusive power to decide on any borrowing.The buck stops here,” said Schlettwein.Zimbabwe’s High Commissioner to Namibia, Stanislaus Chigwedere, has been quoted in both a local daily and Zimbabwe’s Financial Gazette as having said that discussions were in progress with Namibia for financial assistance.He could not be reached for comment this week, as the Embassy in Windhoek has been closed for two days because of Zimbabwean public holidays.In his Heroes’ Day address on Monday, Zimbabwean President Robert Mugabe was reported to have said that the conditions South Africa was said to have attached to its loan offer are “unacceptable”.South Africa is believed to be insisting that the Zimbabwean government talk to the official opposition, retract its stifling media laws, put economic reform measures in place and a more orderly land reform programme, before granting the loan.Along with Namibia, South African media reports have it that Zimbabwe has also approached Uruguay for financial aid, while the Financial Gazette adds Malaysia, Iran, India and China to the list.Mugabe returned from China last week where his bid to secure a US$1 billion loan to pay for desperately needed fuel, electricity and medicines, was reportedly spurned.Besides much-needed foreign currency, Zimbabwe also urgently needs to repay around US$306 million to the International Monetary Fund, or face being booted out of the institution.