Business / Economy
Zimbabwe crafts debt repayment plan
09 Mar 2015 at 06:52hrs | Views
Zimbabwe urgently needs to come up with a solid debt repayment strategy to settle ballooning debts to international creditors.
Finance Minister Patrick Chinamasa is quoited by Daily News saying the country owes "significant amount enough to make most of them skeptical of investing at the moment,"
The country owes about $10 billion.
"The private sector should not be punished because of government arrears, investment must still come so that the private sector benefits, we are spearheading the clearance of various obligations owed so this shows commitment thus the private sector must now start getting reasonable investment," added Chinamasa.
Zimbabwe owes IMF $124 million in arrears accrued since 2000 and other 41billion to the World Bank.
Finance Minister Patrick Chinamasa is quoited by Daily News saying the country owes "significant amount enough to make most of them skeptical of investing at the moment,"
The country owes about $10 billion.
"The private sector should not be punished because of government arrears, investment must still come so that the private sector benefits, we are spearheading the clearance of various obligations owed so this shows commitment thus the private sector must now start getting reasonable investment," added Chinamasa.
Zimbabwe owes IMF $124 million in arrears accrued since 2000 and other 41billion to the World Bank.
Source - Daily News
