News / National
Zimbabwe bailout beyond arrears clearance
12 Oct 2018 at 07:32hrs | Views
Zimbabwe's chances of accessing financial bailout are not only limited to arrears clearance to the international financial institutions amid indications the ongoing re-engagement efforts by the Government might be scuttled by the continued existence of the Zimbabwe Democracy and Economic Recovery Act (ZIDERA), well-placed sources have said.
It also emerged that comprehensive and consistent package of policies for sustainable inclusive growth remain critical to unlock fresh funding for Harare.
This comes as Zimbabwe's external arrears continue mounting with the country owing $2,1 billion to international financial institutions and a further $3,3 billion from bilateral arrangements.
In total the country's external debt amounts to $8,8 billion with $5,6 billion in arrears.
But for the country to clear the arrears, it will also have to convince the US to remove ZIDERA, which even after arrears clearance will still be a stumbling block to provide funding to the southern African state.
It also emerged that comprehensive and consistent package of policies for sustainable inclusive growth remain critical to unlock fresh funding for Harare.
This comes as Zimbabwe's external arrears continue mounting with the country owing $2,1 billion to international financial institutions and a further $3,3 billion from bilateral arrangements.
In total the country's external debt amounts to $8,8 billion with $5,6 billion in arrears.
But for the country to clear the arrears, it will also have to convince the US to remove ZIDERA, which even after arrears clearance will still be a stumbling block to provide funding to the southern African state.
Source - BusinessTimes
