The economy has been locked out of international capital markets since defaulting on payments to the World Bank and other multilateral lenders more than two decades ago.
Zimbabwe resumed token repayments in 2021 to regain access to those credit lines and is seeking an International Monetary Fund staff-monitored programme to help implement an arrears-clearance and debt-resolution plan overseen by African Development Bank President Akinwumi Adesina.
The government of Zimbabwe will “shortly conduct deeper and direct bilateral engagements with the capitals — Washington DC, London and Brussels,” Finance Minister Mthuli Ncube said in a presentation to IMF and World Bank executive directors.
Adesina and former Mozambican President Joaquim Chissano, a facilitator on the nation’s debt resolution process, will also visit some of the capitals for direct talks, he said.
Ncube is currently in Washington for the IMF and World Bank Spring meetings.
Zimbabwe is targeting a High-Level Debt Resolution Forum on May 11, Ncube said.
The external debt overhang and lack of access to international financial resources are weighing heavily on the nation’s development needs and will continue to negatively impact its ability to meet Sustainable Development Goals targets, especially in health, education and social protection, he said.-Bloomberg
(64 VIEWS)
Quarterly taxes, which are due next month, will force businesses to sell a quota of…
Zimbabweans will soon be able to change their ZiG to United States dollars and vice-versa…
Senator Sengezo Tshabangu yesterday expressed dismay at the pace at which the government is constructing…
Zimbabwe has ordered providers of goods and services to use the official exchange rate or…
Zimbabwe is going to introduce legislation which ensures that the country uses one exchange rate…
The role of social media on how people get their news in Zimbabwe is being…