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chronicle.co.zw 03 Aug, 2022 01:15 am

High-Level Debt Resolution Forum on the cards

High-Level Debt Resolution Forum on the cards
Bulawayo's most popular daily newspaper

Nqobile Bhebhe, Senior Business Reporter ZIMBABWE is planning to host a High-Level Debt Resolution Forum with development partners and other stakeholders aimed at building consensus on the process and procedures of resolving the country’s external debt and arrears clearance.In his 2022 Mid-Term Fiscal Policy Review Statement in Parliament last Thursday, Professor Ncube, in line with the ACDRR Strategy, Government will soon host a High-Level Debt Resolution Forum with development partners and other stakeholders aimed at building consensus among all stakeholders on the process and procedures of resolving the country’s external debt overhang and arrears clearance.“The African Development Bank’s President, Dr Akinwumi Adesina has agreed to be the country’s Champion for the Debt Resolution and Re-engagement process.In his capacity as Champion, he will coordinate and chair the forthcoming High-Level Debt Resolution Forum,” said the minister.

According to the document, the urgent conclusion of a debt resolution strategy is critical in regaining access to concessional financing from both multilateral and bilateral development partners.” The document adds that without debt resolution, debt distress and arrears accumulation will continue to hinder the post-pandemic economic recovery and transformation.

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