Story by Stanley James, Business Editor
ZIMBABWE is set to resume talks with creditors to restructure external debts as the economy targets more participation in global financial markets.
A statement by the Ministry of Finance, Economic Development and Investment Promotion released this Wednesday reveals a High-Level Structured Dialogue Platform Forum will be held in Harare on the 25th of this month.
According to Treasury, the forum will create an opportunity for parties involved in the debt talks to provide an update on progress to date and a roadmap for the arrears clearance and debt resolution agenda.
The Finance Ministry reveals that the forum will be attended by President Emmerson Mnangagwa, African Development Bank President and Champion of the process Dr Akinwumi Adesina, along with former President of Mozambique His Excellency Joaquim Chissano.
Economic experts say the talks reflect the government’s commitment to ensure the long-standing debt challenges are resolved.
“Such a platform is critical as it shapes the destiny of the economy in coming up with a favourable repayment plan that positions Zimbabwe in a favourable stance to get access to credit lines and development partner support. The fact that there is commitment then means even the creditors are willing to engage Zimbabwe on matters that require urgent attention,” said Dr Zack Murerwa.
Economist, Dr Ignatious Matungamire added, “For some years, the huge external debt has stifled efforts by the nation to access offshore financial support. Now that the partners are working together, we expect fruitful talks that take into account the willingness of Zimbabwe to expunge the external debt that has negatively affected growth opportunities. This is a positive step and needs to be appreciated.”
In 2022, Zimbabwe established a structured dialogue platform with creditors and development partners to facilitate dialogue on economic governance reforms for the arrears clearance and debt resolution process.
