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Zimbabwe got loan from Afreximbank using platinum collateral

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ECONOMY
Zimbabwe secured a $500-million loan from the African Export-Import Bank to try and stabilize its currency market by offering platinum production as collateral, a person familiar with the details of the agreement said. The Reserve Bank of Zimbabwe on Saturday announced on Twitter that the money would be released into the foreign-exchange market from Monday, without saying where it came from. Finance Minister Mthuli Ncube later said in a separate tweet that the funds were secured from “international banks,” without identifying them. The loan is of four years duration, the person said.
 
 
 
 
 

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