Zimbabwe On Course To Clear International Debt

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Zimbabwe On Course To Clear International Debt

Finance Minister Mthuli Ncube said Zimbabwe is on course to clear its international debt.

Ncube said this in an interview on the sidelines of his presentation to students of Defence Course Intake 7 of 2018, at the Zimbabwe National Defence University in Mazowe. Zimbabwe’s arrears to the African Development Bank (AfDB) are $610 million, over $1,16 billion to the World Bank and $212 million to the European Investment Bank. The arrears have to be settled with all the multilateral financial institutions for Zimbabwe to start accessing funds from them. Said Ncube:

So my view is that we are on track. Of course, it doesn’t mean that any turbulence we face in the country, does not tamper with our plan. When you are piloting an aircraft, when you are going through turbulence you must work harder to keep on course because sometimes it feels like, but you need to keep focus on the destination, and they (creditors) are very supportive of us, in getting to that destination. Equally, those that we owe money are equally supportive, so we are on course.

More: Herald



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