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Zimbabwe to pay white farmers US$331 million in move to rework debt
Zimbabwe plans to pay $331 million to white former farmers whose land the nation seized in 2000 as a step toward getting creditors to agree to restructure the nation's debt pile, which has left it loc...Published: 26 Nov 2024 at 08:19hrs | 453 | by Staff reporter
Zimbabwe to hold talks on $21 billion debt albatross this month
Zimbabwe will resume talks with creditors later this month to restructure $21 billion in external debt as it seeks to exit a default that's kept it locked out of international capital markets since 19...Published: 07 Nov 2024 at 07:17hrs | 392 | by Rigid Kondongwe
Zimbabwe hires Rothschild advisers over $21 Billion defaulted debt pile
Zimbabwe's government has hired financial and legal advisers to help it navigate potential talks with international creditors over the $21 billion it owes, according to people familiar with the matter...Published: 10 Oct 2024 at 12:22hrs | 532 | by Staff reporter
World Bank says Zimbabwe needs economic stability to advance debt talks
Zimbabwe needs an uninterrupted period of macroeconomic stability of at least 12 months to help advance debt talks with international creditors over $21 billion it owes, the World Bank said.Ha...Published: 17 Sep 2024 at 06:52hrs | 408 | by Staff reporter
Zimbabwe demands major reductions on $19.2bn debt
Zimbabwe has asked its creditors for significant debt reductions on its $19.2 billion internal and external debt, Bloomberg reported on May 30, citing Finance Minister Mthuli Ncube."We will be...Published: 03 Jun 2024 at 09:07hrs | | by Staff reporter
Mr Kudzai Mutisi, the German 'Economic wonder' after the WW2 had multiple favourable factors!
I am writing this article as a reply to your article you wrote last week: My article is not in any way or form critiquing your own but including factors that must be known, but, however, adding to wha...Published: 20 Mar 2024 at 20:53hrs | 1 | by Nomazulu Thata
Mthuli Ncube sees $18bn debt talks on course despite US exit
Talks on the restructuring of Zimbabwe's $18 billion debt remain on track, even after the US paused its involvement in the discussions, Finance Minister Mthuli Ncube said.The discussions led b...Published: 07 Mar 2024 at 05:13hrs | | by Staff reporter
Mnangagwa re-engagement plan in danger
This week, political analysts and prominent economists cautioned that President Emmerson Mnangagwa's efforts to re-engage with the international community could be jeopardized by several unfavorable r...Published: 30 Sep 2023 at 18:35hrs | 1 | by Staff reporter
Zimbabwe to clear its foreign debt by the end of 2025
ZIMBABWEAN Finance Minister Mthuli Ncube says Harare will do all it can to clear its foreign debt by December 2025 to open fresh lines of credit that would help in revamping the floundering economy....Published: 07 Aug 2023 at 06:36hrs | 1 | by Staff reporter
Western backed Zambia wins debt relief
Zambia reached an agreement in principle to restructure US$6,3 billion of debt with bilateral lenders, setting a precedent for a growing list of countries struggling to service their liabilities....Published: 26 Jun 2023 at 06:45hrs | | by Staff reporter
Ball is in Mnangagwa's court
LAST week, Zimbabwe continued with its structured debt clearance dialogues with foreign creditors owed over US$14 billion, as the country makes important steps to weave its way out of the debt hole....Published: 26 May 2023 at 06:37hrs | 1 | by Staff reporter
Zimbabwe commits to resolve debt, arrears
PRESIDENT Mnangagwa yesterday committed to resolve Zimbabwe's long overdue debt arrears, and re-engaging with development partners and creditors to reposition the economy for sustained growth anchored...Published: 25 May 2023 at 06:23hrs | | by Staff reporter
'Zimbabwe debt resolution will open funding floodgates'
THE successful conclusion of discussions on Zimbabwe's arrears clearance and debt resolution will lay a firm foundation for the lifting of economic sanctions and help to unlock fresh and affordable ex...Published: 21 May 2023 at 08:02hrs | | by Staff reporter
US tightens screws on Zimbabwe
A representative of the United States government has indicated that President Emmerson Mnangagwa's administration should satisfy sanctions conditions in full for Washington to approve its arrears clea...Published: 04 Mar 2023 at 10:22hrs | | by Staff reporter
Zimbabwe to compensate white former farmers over 10 years instead of 20
Zimbabwe will compensate white farmers, whose land was taken, over 10 years instead of the 20 announced three years ago, finance minister Mthuli Ncube said on Thursday, adding that the money would be ...Published: 25 Feb 2023 at 07:51hrs | | by Staff reporter
Mnangagwa says Zimbabwe govt committed to tackle debt arrears
Zimbabwe President Emmerson Mnangagwa on Thursday said his administration is committed to clearing external debt arrears which have prevented the country from accessing fresh capital from global finan...Published: 24 Feb 2023 at 07:43hrs | | by Staff reporter
AfDB president expected in Zimbabwe
African Development Bank (AfDB) president Dr Akinumwi Adesina, the chief facilitator for Zimbabwe's arrears clearance and debt resolution process is expected in the country tomorrow to attend the seco...Published: 21 Feb 2023 at 05:49hrs | | by Staff reporter
Lenders slap Zimbabwe with US$2,1 billion penalties
INTERNATIONAL creditors and banks have hit Zimbabwe with penalties totalling US$2,1 billion for unsettled debts, official data has shown.According to a report titled "Statement of Zimbab...Published: 18 Dec 2022 at 06:50hrs | | by Staff reporter
AfDB rallies support for Zimbabwe debt solution
When the African Development Bank (AfDB) president, Dr Akinwumi Adesina, speaks on the effects of devastating economic sanctions slapped on Zimbabwe over two decades ago by Britain and her western all...Published: 15 Dec 2022 at 00:21hrs | 11 | by Staff reporter
Zimbabwe govt pays US$50,28m to service external debt
TREASURY paid out US$50,28 million between January and September this year towards servicing its active debt portfolio while token payments were also made for debt arrears owed to International Financ...Published: 29 Nov 2022 at 05:15hrs | | by Staff reporter
Zimbabwe foreign debt now US$14.4bn
DEBT-RIDDEN Zimbabwe's total official Public and Publicly Guaranteed (PPG) debt is estimated at ZW$2.2 trillion for domestic debt and US$14 billion for external debt (including blocked funds of US$3.1...Published: 27 Nov 2022 at 14:58hrs | | by Staff reporter
Biti questions Zimbabwe external debt figure
FORMER Finance minister and Harare East legislator Tendai Biti has questioned the country's current external debt and says that the actual figure was likely higher than what government has disclosed....Published: 26 Sep 2022 at 05:59hrs | | by Staff reporter
Harare-Beitbridge highway project: A new big step in the right direction
AS we turn right off the Harare-Beitbridge highway - just before the intersection of the Harare and Bulawayo arteries five kilometres north of Beitbridge Border Post on the banks of the Limpopo River ...Published: 25 Jul 2022 at 07:57hrs | 1 | by Staff reporter
Zimbabweans have suffered long enough, says African Development Bank boss
THE African Development Bank (AfDB) says it has accepted to assist Zimbabwe's US$13,5 billion debt clearance plan partly because of the need to alleviate the country's citizens from the impact of extr...Published: 13 Jul 2022 at 07:26hrs | | by Staff reporter
AfDB to lead Zimbabwe debt clearance roadmap
AFRICAN Development Bank (AfDB) president Dr Akinwumi Adesina has formally accepted President Mnangagwa's request to lead Zimbabwe's debt clearance strategy, which is key for Harare to unlock fresh fu...Published: 13 Jul 2022 at 07:17hrs | 9 | by Staff reporter
Zimbabwe sinks deeper into debt hole
THE government last year added US$6,45 billion to the public debt as the Treasury assumed the former white farmer's compensation fund under domestic debt and the Reserve Bank of Zimbabwe (RBZ) legacy ...Published: 24 Jun 2022 at 08:56hrs | | by Staff reporter
Backlash over Chinese loans
ZIMBABWE'S debt-stricken administration last year struggled to access fresh loans to scale up ambitious plans to revamp key infrastructure projects after accumulating significant arrears on lifelines ...Published: 23 Jun 2022 at 06:47hrs | | by Staff reporter
Zimbabwe abandons debt relief initiative
The Zimbabwe government has abandoned its plan to access a debt relief facility under the Highly Indebted Poor Countries (HIPC) initiative, meant to resolve its unsustainable debt, Business Times repo...Published: 02 Jun 2022 at 09:29hrs | 7 | by Staff reporter
Zimbabwe govt desperate for Western bailout
Zimbabwe has taken its begging bowl to the international community as it desperately seeks financial sponsors to help pay off nearly US$2.5 billion in external arrears owed to the World Bank and the A...Published: 30 Apr 2022 at 16:25hrs | | by Staff reporter
Zimbabwe pushing to be classified a Heavily Indebted Poor Country
ZIMBABWE is pushing to be classified a Heavily Indebted Poor Country (HIPC) as the country seeks debt relief in what could be a volte-face on the long-held official aversion to the initiative, a new r...Published: 15 Apr 2022 at 19:22hrs | 8 | by Staff reporter
Zimbabwe GDP stands at US$20bn, says Imara
IMARA Asset Management has estimated the size of the Zimbabwean economy to be at US$20 billion, a figure which is a third shy of government projections, as the local economy continues to function unde...Published: 07 Feb 2022 at 21:19hrs | | by Staff reporter
IMF wants Zimbabwe to pay WB first to qualify for a special debt relief programme
THE International Monetary Fund (IMF) delivered another blow to Zimbabwe's debt crisis yesterday, saying Harare will not qualify for a special debt relief programme until it pays off its debt to the W...Published: 01 Dec 2021 at 12:15hrs | 7 | by Staff reporter
Zimbabwe pays US$44m of foreign debt
PRESIDENT Emmerson Mnangagwa's administration paid US$44,2 million to foreign creditors during the nine months to September, as part of its refreshed debt repayment plan, data showed at the weekend....Published: 29 Nov 2021 at 05:36hrs | 7 | by Staff reporter
IMF closes door on Zimbabwe
The International Monetary Fund (IMF) on Tuesday said it was precluded from providing financial support to Zimbabwe due to its "unsustainable debt and external arrears," and any lending arrangement wo...Published: 17 Nov 2021 at 07:46hrs | 5 | by Staff reporter
UN to investigate negative impact of sanctions - political oppression hurts worse than sanctions
UN special rapporteur Alena Douhan, from Belarus, is expected to be in Zimbabwe from on October 18 to 28 at the invitation of government."She is currently seeking the views of all relevant sta...Published: 30 Sep 2021 at 13:52hrs | | by Nomusa Garikai
Zimbabwe mortgaging resources
ZIMBABWE'S economy remains at risk of exploitation as the government continues to mortgage natural resources to secure loans, according to Veronica Zano, an official with the Southern Africa Resource ...Published: 26 Sep 2021 at 19:46hrs | 9 | by Staff reporter
Solutions to Zimbabwe debt, fiscal deficits
THE Labour and Economic Development Research Institute of Zimbabwe (Ledriz) has crafted a cocktail of measures which could be a solution to Zimbabwe's debt problems, fiscal deficits, stunted growth an...Published: 24 Sep 2021 at 09:45hrs | | by Staff reporter
Mthuli Ncube in US
ZIMBABWE will seek to raise $200m in a debut domestic US dollar bond sale on its stock exchange in Victoria Falls that trades exclusively in foreign currency, says finance minister Mthuli Ncube....Published: 16 Sep 2021 at 19:50hrs | 8 | by Staff reporter
Munetsi opens up on EPL move collapse
WARRIORS midfielder Marshal Munetsi has revealed the reason behind his failure to make a move to England's Premier League (EPL) despite reported interest from a couple of clubs.The 25-year-old...Published: 10 Sep 2021 at 07:24hrs | 6 | by Staff reporter
Zimbabwe makes first payment to Paris Club in 20 years
ZIMBABWE says it has made its first debt repayment to a group of creditor countries known as the "Paris Club" under a refreshed plan to clear up to US$10,7 billion owed to several multilateral funders...Published: 05 Sep 2021 at 07:06hrs | 6 | by Staff reporter
Mthuli Ncube to launch US$ bond on VFEX
WITH the Victoria Falls Stock Exchange (VFEX) being one of the innovation reforms meant to support the process of financial deepening, Government is working on launching a US$ bond and list it on the ...Published: 05 Sep 2021 at 06:58hrs | | by Staff reporter
2021 Mid Term Monetary & Budget analysis
The latest mid-term budget and monetary policy statements were presented in a low key mode with emphasis on avoiding policy shocks that can rock the economy. The Zimbabwean government revised upwards ...Published: 01 Sep 2021 at 15:30hrs | | by Victor Bhoroma
'Mthuli Ncube's strategy will help him avoid fresh borrowings'
THE global economy contracted 4,3% in 2020 against a background of the United States-China trade war, Brexit and the unprecedented Covid-19 pandemic, which saw countries imposing strict lockdowns that...Published: 01 Aug 2021 at 06:45hrs | | by Inter HorIzon Securities
Zimbabwe makes token payments to clear foreign debt
ZIMBABWE has started making token payments to service the country's foreign debt with the Treasury channelling about US$17 million in the first quarter of 2021 towards clearing the arrears owed to dif...Published: 30 Jul 2021 at 07:26hrs | 6 | by Staff reporter
IMF rules out Zimbabwe bailout
Fund International Monetary Fund (IMF) on Wednesday said it would not move an inch from its position that Zimbabwe did not qualify for financial bailouts even after clearing its debts to the global le...Published: 18 Jun 2021 at 07:24hrs | | by Staff reporter
Zimbabwe upbeat about economic rebound
Zimbabwe is hoping for economic rebound this year as Finance Minister Mthuli Ncube expects the economy to grow by 7.8%.For two consecutive years, the country's economy has been shrinking. Even...Published: 10 Jun 2021 at 21:23hrs | 2 | by Staff reporter
2021 Mid-Term Budget Expectations
Zimbabwe's mid-term budget for 2021 is expected to be presented in the beginning of July amid encouraging signs of economic recovery in the last 12 months. The country is undergoing a period of relati...Published: 03 Jun 2021 at 20:21hrs | | by Victor Bhoroma
IMF says Zimbabwe needs sound policies and donor support
ZIMBABWE needs a "broader reform and stabilisation agenda" to sustain an almost year-long effort by authorities to support the local currency and lower inflation, the International Monetary Fund said....Published: 21 May 2021 at 06:02hrs | | by Staff reporter
US$48m injection for Zimbabwe banks
THE European Investment Bank (EIB) will inject €40 million (US$48 million) into Zimbabwe banks for on-lending to the private sector, following an exceptional decision by the European Union (EU) memb...Published: 07 May 2021 at 06:31hrs | | by Staff reporter
AfDB pegs Zimbabwe growth at 4,2%
ZIMBABWE'S economy contracted by 10% last year and is envisaged to grow by 4,2% in 2021 if effective measures are taken to stabilise foreign exchange and avoid excessive money creation, the African De...Published: 29 Mar 2021 at 06:26hrs | 6 | by Staff reporter
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