Online Reporter
Farirai Machivenyika-Senior Reporter
PARLIAMENT has commended the Government’s engagement and re-engagement policy following the recent agreement by the United Kingdom and France to co-chair Zimbabwe’s newly established Debt Consultative Group (DCG) under the Structured Dialogue Platform.
The DCG is tasked with addressing Zimbabwe’s US$2,7 billion in arrears and managing the country’s debt restructuring framework, a development widely viewed as a critical step towards restoring confidence in the nation’s economic reform agenda.
The platform will also support the implementation of the International Monetary Fund’s Staff-Monitored Programme and help pave the way for renewed access to international financing.
Parliament’s endorsement came after Chivi Central legislator Cde Xevia Maoneke raised the matter as a point of national interest.
“This development is not merely administrative; it is a profound testament to the efficacy of this Government’s engagement and re-engagement policy,” said Cde Maoneke. For years, he said, the burden of external debt hindered Zimbabwe’s ability to access affordable international credit and stifled the country’s potential for rapid economic expansion.
“The willingness of the UK and France, two major global economies, to steer the committee responsible for restructuring our debt sends an unequivocal message to the international community,” Cde Maoneke said.
“It signifies restored confidence. By co-chairing this process, these nations have signalled a renewed willingness to work alongside Zimbabwe in resolving longstanding arrears, effectively endorsing our commitment to structural economic reforms.”
He further noted that the partnership proved the country’s diplomatic re-engagement efforts were yielding tangible results.
“Moving from isolation to collaborative dialogue with key Western partners is a critical achievement that strengthens our standing in the global arena. Mr Speaker Sir, the benefits of this new development involving the UK and France cannot be overstated,” Cde Maoneke said.
“Consider improved debt sustainability. With the guidance of such experienced international stakeholders, we are in a stronger position to formulate a credible, sustainable and phased roadmap to address our external debt obligations.
“Think of the enhanced investment climate. International investors look for stability and clear pathways for fiscal management. Having the UK and France intimately involved in our debt resolution framework acts as a seal of approval that will help de-risk the Zimbabwean market.”
Speaker of the National Assembly Advocate Jacob Mudenda also expressed optimism about the country’s debt resolution prospects.
“Yes, there is hope at the end of the tunnel regarding our international and domestic debt,” he said.
