Skip to content
Subscriber Only
Markets
Economics

Zimbabwe Will Accelerate Debt Plan, Finance Minister Says

  • Debt arrears must be paid to boost confidence, minister says
  • Zimbabwe owes about $1.8 billion to multilateral lenders
Updated on

Zimbabwe will fast-track plans to settle its debt arrears, a key step needed to restore investor confidence in the country’s economy, Finance Minister Mthuli Ncube said.

The government needs funds to rebuild an economy battered by almost two decades of misrule under former President Robert Mugabe that’s left infrastructure crumbling and crippling cash shortages. Emmerson Mnangagwa, who won a disputed presidential election last month, has said his government plans to prioritize the repayment of about $1.8 billion of arrears to lenders to enable the Treasury to borrow again.