Zimbabwe debt conference on cards

A Zimbabwe debt conference has tentatively been set for April but Government in conjunction with the African Development Bank is flexible as it bids for the country's creditors and development partners to brainstorm on a lasting solution to the debt overhang.

Zimbabwe's public and publicly guaranteed debt burden is estimated at $8 billion comprising an external debt of $7,2 billion and, domestic debt of $1,1 billion. Of the $7,2 billion external debt, the stock of accumulated arrears would account for 81 percent of the total external debt.

Finance and Economic Development secretary Willard Manungo said in an interview that the country has made payments to the World Bank, of about $4 million and $250 000 to the European Union creditors on top of the $150 000 to the International Monetary Fund.

He said the country is expected to perform in line with expectations this quarter.

On the debt conference Manungo said a consideration will be made to the availability of international financial institutions and that of Government.