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Zimbabwe hobbled by debt, Emmerson Mnangagwa tells creditor conference

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AfDB head says Harare has to restructure its debt

Finance minister Mthuli Ncube says compensation to farmers whose land was forcibly taken should be acceleratedZimbabwean President Emmerson Mnangagwa. Picture: BLOOMBERG

“Zimbabwe’s debt overhang continues to weigh down heavily on our development efforts,” Mnangagwa said, as part of a meeting on the country’s debt that was open to reporters. Zimbabwe will compensate white farmers, whose land was forcibly taken, over 10 years instead of the 20 announced three years ago, Ncube said on Thursday in a news conference, adding that the money would be raised through treasury bills.

 

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Hmm. Restructure debt? How about economic reform to earn more to be able to repay debt?

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Zimbabwe: AfDB President Jets in for Debt IndabaThe second key stakeholders meeting on the debt strategy opens today with African Development Bank (AfDB) president Dr Akinumwi Adesina, the chief facilitator of Zimbabwe's arrears clearance and debt resolution process, arriving yesterday with former Mozambique President Joaquim Chissano, the other external facilitator, already in the country.
Source: allafrica - 🏆 1. / 99 Read more »