Government approaches Russia and Malaysia for US$1,2 billion

The Zimbabwean government has approached Russia and Malaysia in search of US$1,2 billion out of the US$1,8 billion required to settle arrears to international financial institutions (IFIs)in line with the Lima Plan.

Government sources revealed to The Zimbabwe Independent that Reserve Bank of Zimbabwe governor John Mangudya has  Russia and Malaysia in a desperate bid to seek funding for sectors such as agriculture.

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Contacted by the Zimbabwe Independent, Mangudya confirmed that he visited the two countries after the just-ended IMF annual meetings in Washington DC. In the interview Mangudya said,

I went to Malaysia to discuss the settlement of an old debt that occurred during the period of the Bilateral Payments Arrangement between Malaysia and Zimbabwe signed in 1991 and operational in 2000. In Russia I was exploring the possibility of importing agricultural inputs.

More: Zimbabwe Independent

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Government approaches Russia and Malaysia for US$1,2 billion