The Secretariat of the Southern African Development Community (SADC) has been inundated with queries from the media on an alleged economic rescue package for the Republic of Zimbabwe that was, amongst others, broadcast by the SABC on its “Morning Live” programme on July 09, 2007.
Citing a “Sunday newspaper,” the SABC claimed that SADC was putting together a package consisting, among other things, of pegging the Zimbabwe Dollar to the South African Rand (ZAR), with the view to stabilise the exchange rate of the former and curb inflation.
The stability of all the economies in the SADC region, including that of the Republic of Zimbabwe is of great concern and significance to our Organisation.
In this view SADC will always endeavor to assist any of its Member States when faced with difficulties.
It is in this spirit of regional solidarity that the Extra-Ordinary Summit of SADC Heads of State and Government held in Dar-Es-Salaam, United Republic of Tanzania on March 29, 2007, mandated the SADC Executive Secretary, Dr. Tomaz Augusto Salomão to undertake a study on the economic situation of Zimbabwe and propose measures on how SADC can assist Zimbabwe to recover economically.
To this end, a study has been conducted and a report will be prepared and presented to the Summit Troika of the SADC Organ on Politics, Defence and Security for consideration in due course.
The current Summit Troika of the Organ consists of the Organ Chairperson, the United Republic of Tanzania; the Organ Deputy Chairperson, the Republic of Angola, and the Outgoing Organ Chairperson, the Republic of Namibia. The chairpersonship rotates on annual basis.
Against this background, SADC disassociates itself from any reported support packages as they did not originate from its Secretariat.