A lobby group, the Zimbabwe Coalition on Debt and Development (Zimcodd) has accused the government of throwing lenders and creditors under the bus and liberating debtors after the supreme court ruled that all debts incurred during the 1:1 era were to be settled on the 1:1 basis using local currency, Newsday reports.
The lobby group urged the government to inherit the debt emanating from this ruling. Said Zimcodd in a statement:
The government should take full responsibility over the losses incurred due to this policy change, which is escalating into disputes and conflicts among individuals and companies.
There is need for the government to take serious consideration of the detrimental effects of this move on businesses to avoid further damage to an already ailing economy,
The court ruling is borne out of the long-standing currency crisis and it is critical for the government to address the currency issue once and for all.