Story by Stanley James, Business Editor
The progress recorded so far in resolving Zimbabwe’s arrears and debt challenges has ignited optimism that the move will restore global financiers confidence.
The huge external debt overhang has been stifling Zimbabwe’s ability to access funding for socio economic development.
Creditors and development partners have described debt resolution dialogue as commitment by the country to sustainable growth.
“It is my hope that this meeting will conclude the entire roadmap that we started, this is very critical in ending the over 23 years of sanctions. It is quite that time to bring this to an end , dialogue is key to the agreements, listen to each other and restore our spirit of reconciliation, said His Excellency Stephane Rey, Ambassador of Switzerland to Zimbabwe.
“The government is doing an incredible job in ensuring the success of the strategy so we have to make sure that the entire issue goes ahead in as much as the entire thrust of dialogue is concerned,” noted His Excellency Jobst van Kirchmann, Development Partners Co- Chair, and EU Ambassador to Zimbabwe.
As Zimbabwe is forging ahead with quarterly payments to creditors, the commitment is setting the pace for credit-worthiness as explained by African Development Bank president, Dr Akinumwi Adesina.
“A series of reforms are being made and we will work with the Government of Zimbabwe to ensure that they will do all the necessary reforms to ensure that the entire system is concluded by mobilising resources and technical expertise,” he explained.
Zimbabwe’s Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube outlined the debt resolution agenda for next year.
“The pace is looking positive it is a process and we shall be there because the diplomatic community has been endorsing it including bilateral and multilateral financiers this is an issue that has been getting the much needed support,” he said.
The debt resolution strategy has been identified by the Government as important in facilitating annual growth rate targets of above five percent.
