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South African banks suspend credit lines

    JOHANNESBURG

    South African banks have suspended lines of credit to Zimbabwe, Zimbabwe media reports said over the weekend. ‘The Sunday Standard’ said that South African banks had refused to confirm any letters of credit from Zimbabwean banks mainly because of the foreign currency shortages in Zimbabwe and fears about the government ability to continue getting aid from the international community. According to the media reports, South African banks feared that they might not be able to get their money from their Zimbabwean counterparts.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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