Zimbabwe’s debt clearance strategy

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Zimbabwe’s debt clearance strategy

Post author:CORRESPONDENT
Post published:February 10, 2016
Post category:Uncategorized
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ZIMBABWE – Zimbabwe is in arrears on most of its external official debt. Lack of balance of payments and budget support has hampered economic growth prospects.

Within this context, Government resolved to find lasting solutions to clear its external debt arrears to both multilateral and bilateral creditors as a prerequisite for the country to unlock fresh capital injections in order to meaningfully contribute towards the attainment of accelerated, inclusive and sustained economic growth and poverty reduction lt is against this backdrop that Government constituted a Debt Arrears Clearance Committee (DACC) , which was mandated to come up with strategies to resolve the country’s debt burden. The Zimbabwe delegation pitched the strategies to the IMF/World Bank annual meetings in Lima, Peru,