Online Reporter
Oliver Kazunga
Senior Reporter
ZIMBABWE has secured a major diplomatic boost after France and the United Kingdom agreed to co-chair a new creditor forum to accelerate the country’s arrears clearance and debt restructuring process.
The Debt Consultative Group (DCG), established under the Structured Dialogue Platform (SDP), is expected to provide a transparent and institutionalised platform for engagement between Government, bilateral and multilateral creditors, development partners and other stakeholders as Zimbabwe advances its Arrears Clearance and Debt Resolution (AC&DR) Roadmap.
According to a report from the Ministry of Finance, Economic Development and Investment Promotion, the establishment of the DCG follows extensive consultations held between September and October last year and reflects growing international support for Zimbabwe’s reform agenda and debt resolution efforts.
“Following consultations in September – October 2025 and progress under the Structured Dialogue Platform (SDP) Process, specifically implementation of the IMF Staff-Monitored Program (SMP), stakeholders, Government and development partners, agreed to establish a Debt Consultative Group (DCG) under the SDP Process to focus on the Arrears Clearance and Debt Restructuring (AC&DR) Roadmap,” it said.
“The aim is to provide a transparent, predictable, and institutionalised platform for engaging creditors; address the complexity of bilateral and plurilateral negotiations; and clarify the sequencing and mechanics of the AC&DR Process, including the critical path from securing an IMF Staff-Monitored Programme, through arrears clearance and debt restructuring, to an Upper Credit Tranche (UCT) programme and comprehensive debt treatment.”
France and the United Kingdom will co-chair the new platform together with the Ministry of Finance, Economic Development and Investment Promotion and the Reserve Bank of Zimbabwe, helping to coordinate engagement with creditors and maintain coherence across the country’s broader reform programme.
“France and the United Kingdom have agreed to co-chair the DCG together with the Ministry of Finance, Economic Development and Investment Promotion and the Reserve Bank of Zimbabwe, to help operationalise this Group and maintain coherence across the overall reform and engagement architecture.
“The co-chairs will work together closely, sharing leadership toward the AC&DR Process objectives, with the role of the co-chairs centred on convening and coordination of support for the dialogue process,” it said.
The inaugural meeting of the DCG is expected to take place later this month, with subsequent meetings to be convened around key milestones under the IMF Staff-Monitored Programme, including programme reviews, bilateral consultations and high-level international engagements.
Membership of the group will be broad-based, bringing together creditors, development partners and key stakeholders to facilitate structured dialogue on Zimbabwe’s debt resolution strategy.
The report said the DCG will serve as an open and credible platform that demonstrates Government’s commitment to transparency, cooperation and information sharing while supporting implementation of the arrears clearance roadmap.
Among its key responsibilities will be facilitating formal dialogue between Government and creditor groups, enhancing technical understanding of Zimbabwe’s debt resolution strategy, assessing progress on roadmap milestones and strengthening coordination with international institutions such as the African Development Bank, the World Bank, the International Monetary Fund and the Paris Club.
The platform will also support Government’s technical work on arrears clearance and debt restructuring in collaboration with the African Legal Support Facility as well as Government’s financial and legal advisers.
Attention in the coming months will focus on implementation of the 10-month IMF Staff-Monitored Programme, which became effective on March 1 this year and is regarded as the foundation for clearing Zimbabwe’s US$2,7 billion arrears with major international financial institutions before progressing to comprehensive debt restructuring.
It is hoped that summary conclusions will be released after each meeting to promote transparency and encourage constructive engagement among all stakeholders as Zimbabwe pursues restoration of debt sustainability and renewed access to concessional development financing.
