Zimbabwean lands top World Bank post

ZIMBABWE Aid and Debt Management Office (ZADMO) head Andrew Bvumbe has landed a top post with the World Bank for the African region, Treasury said yesterday.

Bvumbe will assume the new post of alternate executive director for African Group 1 constituency effective November 1 during the period 2014 to 2016.

In a notice yesterday, Finance and Economic Development minister Patrick Chinamasa said Bvumbe shall be presented to the governors at the constituency meeting for formal endorsement during the annual meetings of the World Bank Group in October.

Zimbabwe owes the International Monetary Fund $124 million, AfDB about $800 million (of which $528 million is in arrears) and $1,4 billion to the World Bank.

AfDB estimates that Zimbabwe requires $16 billion to revamp the infrastructure that has deteriorated over the years.