Govt Reaches Flexible Payment Arrangements With Fuel Importers in Bid To End Queues

Zimbabwe’s Government has reached flexible payment arrangements with a unit of Trafigura Beheer BV and Independent Petroleum Group of Kuwait Ltd  that will ensure it stabilizes supplies amid a foreign-currency shortage that threatens economic growth.

Energy Minister Joram Gumbo said Government has struck a deal to extend payment periods for gasoline supplies to as many as six months from 30 days. He said this enables Government to prioritize allocation of scarce U.S. dollars to strategic areas. Gumbo said the situation will not stabilise overnight.

More: Bloomberg