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AFRICA Confidential, a continental focused information group, is organising a high-level one-day conference to examine the implications of debt repayment by Zimbabwe to international financial institutions. The conference, to be held under the theme “Zimbabwe 2016: Rebooting and Rebuilding,” will be held in London on July 5. Key speakers include Reserve Bank of Zimbabwe Dr John Mangudya, Finance and Economic Development Minister Patrick Chinamasa, Macro-Economic Planning and Investment Promotion Dr Obert Mpofu and Industry and Commerce Minister Mike Bimha.
“This year marks a turning point for Zimbabwe’s economy and its people,” said Africa Confidential in a statement.
“The country is on the brink of finalising an historic deal which will end a decade and half of sanctions and unlock substantial new funds for economic growth and development. At the heart of this are the negotiations between the Zimbabwe government and the IMF and World Bank launched last year at an international summit in Peru.”
The arrangements, in which the African Development Bank will play a leading role, are designed to clear Zimbabwe’s $1.8 billion arrears to international financial institutions and enable the country to raise new funding for important development projects.
The target date for completion of the agreement is June and will involve some African states offering to lend Zimbabwe money to repay its arrears. Beyond the key officials in Zimbabwe and in the international financial Institutions, this financial initiative has won broad international backing from the African Union, China, Japan and the European Union.
Africa Confidential said the conference is aimed to examine the implications and potential of repaying the debts.
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