Zimbabwe to clear multilateral debt arrears by September


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Zimbabwe expects to make up for all its debt arrears to major international lenders by September and could return to international capital markets thereafter, its central bank deputy governor said today.

According to Reuters, Khupukile Mlambo said in London today:  “The ball is in our court, it is not with the IMF or the World Bank or the African Development Bank.  We are on course for September for sure to repay. “

Zimbabwe has $1.75 billion in foreign arrears.

Once its multilateral arrears are cleared, bilateral debt would be next on the agenda, said Mlambo, which could happen by the end of the year.

“It is optimistic, but if we could do everything by December I would be very happy,” he said. “At least if we can clear all the multilateral debt, then we can begin to make approaches towards international capital markets.”

(136 VIEWS)

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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