China cancels Zimbabwe’s debt

CHINA has cancelled a number of Zimbabwe’s debts, with Foreign Affairs Minister Simbarashe Mumbengegwi and China’s Vice-Minister of Foreign Affairs Zhang Ming signing a protocol to seal the cancellation.

The debt cancellation was first announced in 2015 when China’s President Xi Jinping visited Zimbabwe and met President Mugabe.

The deal was formalised last week when Vice-Minister Ming visited Zimbabwe and met President Mugabe before signing the protocol for debt cancellation with Minister Mumbengegwi.

“It was recalled that during President Xi Jinping’s visit to Zimbabwe in 2015, he announced the cancellation of a number of debts owed by Zimbabwe to China. His Excellency President Mugabe expressed Zimbabwe’s profound gratitude for this fraternal gesture, which reflected the strong bonds of amity and solidarity between the two countries and peoples,” said the Foreign Affairs Ministry yesterday.

“In that context, Zimbabwe’s Minister of Foreign Affairs, Cde Simbarashe Mumbengegwi, and the Chinese Vice-Minister signed the protocol formalising the cancellation of those debts.”

Vice-Minister Ming, who arrived on Thursday and leaves today, met President Mugabe and apprised the Head of State and Government on implementation of deals in the energy, infrastructure and aviation sectors.

He also delivered a special message to President Mugabe from President Xi. state media