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Zimbabwe Wants to Change $3.5 Billion Farmer Deal After Missing Payments

  • Farmers’ group denies agreement reached over new payment terms
  • State-owned miner Kuvimba key to farmers’ compensation plan

Zimbabwe is proposing changing the terms of a $3.5 billion compensation deal signed with former White farmers two years ago, after twice missing agreed-to payments.

The revised plan was part of Finance Minister Mthuli Ncube budget presented on Thursday at the new Chinese-built Parliament building north of the capital, Harare. According to the original pact, farmers who were evicted from their land two decades ago should have received half the money within the first year, followed by four $437.5 million annual installments.