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Zimbabwe is now sitting on a deep rooted social and economic crisis with its national debt; both domestic and external, ballooning to USD$18 billion due to a porous public finance management system and non-procedural loaning system, Zimbabwe Coalition on Debt and Development (ZIMCODD) executive director Janet Zhou has said.
By Ndakaziva Majaka Finance minister Patrick Chinamasa says government is working on “necessary documentation” for the country to implement its $1,8 billion arrears clearance strategy, with multilateral institutions expected to meet in the second half to approve the strategy. The Treasury chief told the National Assembly on Thursday that the International Monetary Fund (IMF) board had […]
By Phillimon Mhlanga The International Monetary Fund (IMF) has warned Zimbabwe to start implementing its plan to resolve the country’s external debt arrears or risk losing momentum in its bid to re-engage international financiers. The country last year tabled proposals to clear US$1,8 billion in arrears to the World Bank (WB), IMF and the African […]
The African Development Bank has agreed to write-off Zimbabwe’s $601 million arrears to the bank, an official said on Tuesday, helping the southern African country reduce its loans with foreign lenders.
Robert Mugabe wants your money again. After years of failing to repay Zimbabwe’s staggering debts, repeatedly blaming the United States for its problems, and shamelessly courting China, the nonagenarian president is now seeking a rapprochement.
GOVERNMENT on Wednesday said it would dispatch a high level team of officials to three European capitals to appraise key creditors about the country’s dire economic situation as efforts to find a solution to a debt crisis intensifies.
HARARE – Zimbabwe is set to meet with multilateral creditors next month at the International Monetary Fund (IMF) and the World Bank (WB) conventions in Lima, Peru, to renegotiate the country’s external debt, a Cabinet minister said.
HARARE – Finance minister Patrick Chinamasa says Zimbabwe has come up with a strategy to settle its nearly $10 billion debt, with multilateral lenders being paid first as they are owed the most.
HARARE – Zimbabwe has requested for assistance from the African Development Bank (AfDB) to clear its 7 billion U.S. dollars external debt which has prevented it from accessing fresh loans from multilateral financial institutions.
Zimbabwe’s combined domestic and external debt stands at $9, 909 billion, Finance and Economic Development minister, Patrick Chinamasa, today told journalists in Harare.