ZIMCODD Challenges Government To Be Transparent On Debt
Zimbabwe Coalition on Debt and Development (ZIMCODD) has challenged the government to be transparent on public debt. The coalition estimates that the Zimbabwean debt is now standing at USD$18 billion.
ZIMCODD further argues that most of the debt is due to corruption which goes unpunished.
Some of the participants to ZIMCODD indabas on public finance management pushed for a public debt audit. The audit is meant to establish the purpose and intended beneficiaries of the debts.
Other participants believe that some loans benefitted a few individuals yet payment is now supposed to be a national issue.
Recently, the government announced plans to inherit TelOne debt to several foreign banks which dates back to the 1990s.
According to ZIMCODD, members of the public are demanding to know how the debt emanated before settling to inherit it.