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"Structured Dialogue The Only Path To Zimbabwe’s Arrears Clearance And Debt Resolution"

4 months agoTue, 26 Nov 2024 06:33:58 GMT
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"Structured Dialogue The Only Path To Zimbabwe’s Arrears Clearance And Debt Resolution"

The president of the African Development Bank (AfDB), Akinwumi Adesina, praised Zimbabwe for making significant progress in addressing its US$21 billion public debt, despite challenges such as sanctions and an El Nino-induced drought.

Zimbabwe’s external debt stands at US$12.3 billion, owed to creditors like the AfDB, World Bank, and European Investment Bank. The country also has a domestic debt of US$8.7 billion.

During his speech at the High-level Structured Dialogue Platform Meeting on Arrears Clearance and Debt Resolution in Harare on Monday, Adesina, who is leading Zimbabwe’s debt clearance efforts, said:

The high-level structured dialogue is the only way, there is no other way. So, we should make it work to deliver the expected end: arrears clearance and debt resolution for Zimbabwe.

That is why the African Development Bank provided US$4,2 million towards facilitating the High-Level structured dialogue.

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And we expect to provide additional support because we strongly believe these dialogues are yielding fruits.

According to the AfDB president, Zimbabwe is too important for the world to overlook. He said:

With its vast deposits of critical minerals, including lithium and platinum metals group, Zimbabwe is one of the leading countries that holds the future for global energy transitions.

In a world of geo-political competition and drive for securing vital strategic minerals and metals, we must look at Zimbabwe with new lenses.

Adesina also said Zimbabwe is on track to implement an International Monetary Fund (IMF) Staff Monitoring Programme (SMP), which is crucial for the arrears clearance process.

He said that this is set to take place in January when IMF officials will visit the country.

More: Pindula News

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17 Comments

PEACE · 4 months ago
How was the borrowed cash used pliz, mmm looting chete apo.
Buwada Buwada · 4 months ago
structured party+ structured currency+ structured dialogue = structured bu_ll dirty
👀👀 · 4 months ago
ndakanzwa panews nezuro ,Zim yakatogarirwa pasi kuitirwa musangano wekuti yopedza sei chikwereti ichi,mazimari vachitora havo vachitutira muhomwe dzavo nevana vavo
ZimSketch · 4 months ago
i have no problem with progress made to clear the debt, the problem i have is where did that $21billion go... what investment was done by this Zanu govt..... who benefitted from these l.o.a.ns? is this the same money being squantered by Chivharo and friends
👀👀 · 4 months ago
gudhu kwesheni
Anonymous · 4 months ago
The investement was to make their own pockets deeper. The problem was, there is nothing deep enough to feed their hunger, whilst everyone else starves.
Corruptmore Looto · 4 months ago
Most of the external debt was largely borrowed before the 2000s and as far as I can remember Mugabe used it responsibly , it was mostly $100 million łōåňș and it ballooned because of interests, the problem is that Mugabe suddenly refused to continue payments in the late 90s in response to being given the cold shoulder by the Western funded lenders as a result of Zim's participation in the DRC war. Where there are large question marks is that domestic debt, where the Treasury was just busy assuming various debts of powerful individuals and failing parastatals linked to Zanu PF and placing it on the government hence us the people. If we manage to fix our relations with the West they may forgo the arrears but we will have to pay for the initial value of the łōåňș but the figures will be much smaller. The debt before the land reforms was mostly clean, the ones after that chaotic period are the ones which we should be worried about because that chaotic reform didn't just take away the economy with it, it also destroyed the governance systems, judicial independence and largely entrenched cronyism and corruption within the State. Strive would have never won against the government had this captured Judiciary existed back then. So 2000 really was the turning point for this country, the start of our self-destruction.
Mp · 4 months ago
interpretation in shona Apa nyaya irikutawura ne Mari ichpuwa Zimbabwe ne bank re world bank handzi Zimbabwe inyika inewotongi wakanaka pasi rese
Mp · 4 months ago
just sell the country to Elon musk
Anonymous · 4 months ago
You would have to ask China's permission first.
Yoyoyo · 4 months ago
😁😁 structured dialogue my foot we prefer strategic ambiguity and bhuru mangoing we do not like structures that is what we were taught by our twitter president
The Edurite · 4 months ago
Structured dialogue, structured currency ?! .......Erudite out 🤣
Vic Venom · 4 months ago
🙄🙄 you cannot even copy yet you want to walk in my shoes... Rant over sanity restored
...,. · 4 months ago
Too much talking with no work being done is more like playing with people's minds. Debts cannot be repaid with dialogue. Has the ADB freely given the US$4.2 million towards the dialogue, or is it also adding that to the existing debt? What is happening to the lithium and other minerals which are being exported with the debt growing at the same time? Are we giving away the lithium and other minerals, or are we exporting them at a loss?
Anonymous · 4 months ago
They are being exported, but the funds are staying external. That is why they need to fly out of the country to see the "gold" that is funding the new bondi.

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