Zimbabwe Issues Dollar Bonds to Pay Ex-Farmers for Land Grabs

Zimbabwe issued treasury bonds worth $308 million and made small cash payments to White farmers who were dispossessed of their property 25 years ago under a state-backed land reform program.

The payments are the first under a so-called “Global Compensation Deed” signed in 2020 between the state and the former farm owners in which Zimbabwe committed to paying $3.5 billion for improvements done on the farmland.