Gvt, AfDB meet over arrears

Today, African Development Bank Group president Akinwumi Adesina has met with President Emmerson Dambudzo Mnangagwa over arrears clearance talks.

The talks include a staff monitored program with International Monetary Fund (IMF), payments for farms protected by bilateral investment agreements, potential bridging finance, and title for resettled farmers.

AfDB and IMF are the country’s major creditors and Zimbabwe is trying to clear the debt.

Zimbabwe’s Finance Minister, Professor Mthuli Ncube, recently confirmed the commencement of payments, emphasizing that honoring these commitments is vital for building trust, improving investor confidence, and achieving debt sustainability.

“This process is critical for building trust, honoring our commitments, and ensuring consistency with our Constitution as we address Zimbabwe’s debt challenge,” he said.

Under Dr. Adesina’s leadership, the African Development Bank Group has not only facilitated Zimbabwe’s structured engagement with creditors but has also committed to mobilizing concessional financing through the African Development Fund—the Group’s concessional arm— to assist Zimbabwe in clearing its arrears, replicating successful debt resolution models used in Sudan and Somalia.

Zwnews