RBZ To Pay $4 Million Per Month To Pay Off $150 Million Debt To International Airlines

The Zimbabwe Tourism Authority (ZTA) has said that the Reserve Bank of Zimbabwe has committed itself to making monthly payments of $4 million in order to pay off a debt of $150 million which is owed to international airlines. Most major airlines had stopped all ticketing in Zimbabwe due to difficulties in the repatriation of foreign currency.

In a statement the ZTA said,

The team’s meeting with the Ministry of Finance and the RBZ discussed the IATA debt in great detail and a resolution to immediately address the skyrocketing repatriation debt was reached. A payment plan was agreed on and the Ministry of Finance through the RBZ would make significant monthly payment of $4 million a month towards the $150-million-dollar debt.

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