CAPE TOWN - Zimbabwe plans to start talks in early 2020 on clearing arrears on its international debt, Finance Minister Mthuli Ncube said, as it seeks to rebuild confidence in an economy ravaged by high inflation and shortages of hard currency and basic goods.
Asked if foreign investment was being deterred by a crackdown on anti-government demonstrations, Ncube said protests naturally hurt investor sentiment but that President Emmerson Mnangagwa was determined to build an inclusive society.“...Some of the parties are not participating and some of them are those protesting... doesn’t mean that the government is not making an effort to make sure there is a more cordial environment... The effort is being made every day.
Ncube, who predicted the economy would contract this year before rebounding in 2020, said he was “not happy” with current inflation levels but that fears of a return to hyperinflation were unfounded. “...We need some kind of bridging loan or facility because we don’t have enough resources to be able to clear all the arrears. We need about a $1 billion in terms of the shortfall we need for those two.”
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BDliveSA - 🏆 12. / 63 Read more »