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Zimbabwe among debt risky countries

by Staff reporter
01 Sep 2016 at 06:22hrs | Views

Zimbabwe is among high risk countries due to its high national debt of about $10 billion, with the country having gone for over a decade without paying its obligations to creditors.

African Economic Outlook (AEO) in its latest report said in high risk countries an effective tax administration requires a highly-qualified and well-equipped staff that can work without political interference.  

In Zimbabwe, the taxation system is viewed as being overpriced with many analysts stating that the pricing mechanism is the highest in the region.

As a result, according to AEO, Zimbabwe joins Burundi, Cameroon, Central African Republic, Chad, Djibouti, Ghana, Mauritania, Sao Tome and Principe, and Sudan as a high risk debt sustainable country.

Source - newsday