The Financial Gazette reported from Harare that Zimbabwe is in negotiations with Libya for a $2-billion loan to help stabilise the country’s economy, which is facing a huge crisis. This, according to the Gazette, was revealed to them by senior government sources.
They also added that President Robert Mugabe held meetings last with Libyan leader Moammar Gadaffi during a three-day visit to Tripoli, where the Gazette said that according to senior officials, the loan, details of which remain sketchy, was discussed.
Officials declined to discuss details on the terms of the deal, but its confirmation will revive debate about what Libya would get in exchange for the loan.
In 2002, Zimbabwe received oil from Libya under a $360-million loan facility that was to be repaid partly by the supply of farm produce to Tripoli. But the deal collapsed after Zimbabwe failed to meet its side of the deal. — I-Net Bridge