PRESIDENT Emmerson Mnangagwa has embarked on a diplomatic initiative with Britain and other creditors as the country seeks debt rescheduling and cancellation to improve its risk profile and credit rating.
By Bernard Mpofu/Melody Chikono
This development could signal a shift in the countrys debt strategy. The government has in the past rejected any debt cancellation modelled along the Highly Indebted Poor Countries initiative. But the latest details suggest Harare is now ready for debt forgiveness to unlock critical funding.
The government had committed to paying the US$1,2 billion arrears to the World Bank by April this year, as the first step towards unlocking fresh funding from multilateral institutions.
The pledge came at a time…
Read the full article at: https://www.theindependent.co.zw/2018/03/24/harare-seeks-debt-relief/
