from DANAI MWARUMBWA in Harare, Zimbabwe
HARARE, (CAJ News) – ZIMBABWE is intensifying efforts to clear its debt, amounting to US$17,5 billion (about R335.125 billion)
It has concluded a fourth Structured Dialogue Platform (SDP) meeting on debt clearance with creditors and development partners.
Government and development partners met last Thursday to review three draft policy reform matrices prepared by sector working groups on economic, governance and land tenure reforms.
They also looked at compensation of former farm owners, and the resolution of Bilateral Investment Promotion and Protection Agreements.
In his welcome remarks, Finance and Economic Development Minister, Mthuli Ncube, assured the participants of the country’s “full commitment and ownership to the process,” including the implementation of policy reforms.
He encouraged stakeholders to continue with “constructive and candid” dialogue.
“This is critical to building mutual trust and confidence, needed for the success of the arrears clearance and debt resolution process,” Ncube said.
In December 2022, the Zimbabwean government established SDP with all creditors and development partners, to institutionalize structured dialogue on economic and governance reforms to underpin the arrears clearance and debt resolution process.
Alexis Ferrand, Economics Advisor to the Government on Arrears Clearance, outlined the Economics Reforms Matrix’s strategies, which will enable sustained inclusive economic growth, increased investment opportunities and job creation.
The matrix is centred on enhancing service delivery, public sector transparency and accountability, combating corruption and promoting human rights. It also covers electoral reforms, national unity, peace and reconciliation. It
African Development Bank President, Dr Akinumwi Adesina, and former Mozambican President, Joaquim Chissano, are championing Zimbabwe’s debt clearance process.
Debt owed to international creditors stands at $14,04 billion, while domestic debt stands at $3,4 billion.
The country is in arrears for servicing its debt to multilateral development banks, including the African Development Bank, European Investment Bank and World Bank. The dialogue meetings are expected to continue after elections due in August this year.
– CAJ News