Harare (New Ziana)- Former Mozambican President Joaqim Chissano and African Development Bank (AfDB) president Akinwumi Adesina have been appointed to facilitate Zimbabwe’s Arrears Clearance and Debt Resolution Process.
The two are expected in the country for the second Structured Dialogue Platform Meeting from Feb 19 to 24.
The inaugural structured Dialogue Platform meeting was successfully held on 1 December 2022, and it agreed on three pillars for implementing, namely Economic reforms, Governance reforms, Land Tenure and Compensation of Former Farm Owners, including the resolution of Bilateral Investment Protection Agreements.
In a statement, Finance and Economic Development Minister Prof Mthuli Ncube said President Emmerson Mnangagwa had made the appointments.
“His Excellency, the President of the Republic of Zimbabwe, Cde E.D Mnangagwa has appointed the president of the African Development Bank, Dr Akinwumi A. Adesina as the Champion and former President of the Republic of Mozambique, His Excellency, Joaquim A. Chissano as the High- Level Facilitator of the Arrears and Debt Resolution Process. His Excellency, J. A Chissano and Dr. A. A. Adesina will co-chair the structured Dialogue platform on the 23rd of February 2023,” he said.
In December last year the Zimbabwe government established a structured Dialogue Platform with all creditors and Development Partners, in order to institutionalize structured dialogue on economic and governance reforms to underpin the Arrears Clearance and Debt Resolution process.
As of the end of June last year, public and publicly guaranteed debt stood at ZWL$1.3 trillion and US$13.2 billion, comprised of domestic and external debt respectively.
As part of the plan to deal with the debt, the government adopted the Arrears clearance, debt relief and restructuring strategy, and roped in the AfDB to champion the process.
Zimbabwe has not been able to service much of its foreign debts over the years due to a sustained economic downturn caused largely by illegal sanctions that Western countries.
As a result, most international lenders stopped giving fresh loans to the country until it cleared its previous debts, a condition which has failed to meet.
New Ziana
