Financier dumps Zimbabwe

Zimbabwe's efforts to clear its arrears with international lenders who include the World Bank and the African Development Bank have hit a snag after an unnamed financier dumped the country halfway through negotiations for a funding deal.

Finance Minister Mthuli Ncube told Parliament that Government had gone back to the drawing board in a bid to secure new financiers to help extinguish its international obligations.

Ncube said the country had resumed its token payments to contain debt accumulation.