NEW: Harare City Council hedges debts in US dollars

The acting head of policy, corporate strategy and grants, Mr Amos Muguti, said starting Monday next week, the city is expected to start visiting the industrial areas and major shopping centres.

Online Reporter

THE Harare City Council (HCC) has come hard on ratepayers after it announced that residents who fail to settle their debts in three months risk paying the debts in United States dollars.

Council said it is owed over $8 billion.

HCC announced the new development on its Twitter handle on Thursday.

“Residents who fail to retire their debts within three months of being invited to negotiate payment plans will have their outstanding debts converted to United States dollars at the interbank rate and pay the debts in US dollars.”

“Money owed to council is losing value daily and when it is finally paid, it will not meet its budgeted targets. Hedging the debts against the United States dollar will help the council maintain value when it’s finally paid.”

This comes after HCC has issued 100 000 summons to defaulters.