Zimbabwe On Course To Clear International Debt

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Finance Minister Mthuli Ncube said Zimbabwe is on course to clear its international debt.

Ncube said this in an interview on the sidelines of his presentation to students of Defence Course Intake 7 of 2018, at the Zimbabwe National Defence University in Mazowe. Zimbabwe’s arrears to the African Development Bank (AfDB) are $610 million, over $1,16 billion to the World Bank and $212 million to the European Investment Bank. The arrears have to be settled with all the multilateral financial institutions for Zimbabwe to start accessing funds from them. Said Ncube:

So my view is that we are on track. Of course, it doesn’t mean that any turbulence we face in the country, does not tamper with our plan. When you are piloting an aircraft, when you are going through turbulence you must work harder to keep on course because sometimes it feels like, but you need to keep focus on the destination, and they (creditors) are very supportive of us, in getting to that destination. Equally, those that we owe money are equally supportive, so we are on course.

More: Herald

Mthuli NcubeMazowe

Professor Mthuli Ncube is the Minister of Finance and Economic Development.He was the Chief Economist and Vice President of the African Development Bank ,financial, economics, investment, and public policy expert, entrepreneur and academic. Professor Ncube divides his time between the private sector in Switzerland and... Read More About Mthuli Ncube

Mazowe` is a town located in Mashonaland Central Province in Zimbabwe. Read More About Mazowe

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1 Comment

  1. Donal Mac Cormaic Reply

    OK, so has any repayment been made yet? If not how much will be repaid in the first repayment and when? Put your money where you mouth is Mthuli Ncube, you can’t say repayments are on track if not even once cent has yet been repaid.

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