AfDB president Akinumwi Adesina in Zim for debt cl...

AfDB president Akinumwi Adesina in Zim for debt clearance indaba

Zim Now Writer

African Development Bank president, Dr Akinumwi Adesina, the chief facilitator of Zimbabwe's arrears clearance and debt resolution process, arrived in the country yesterday, together with former Mozambique President Joaquim Chissano, the other external facilitator, already in the country for the second key stakeholders meeting on the debt strategy.

Dr Adesina and his team of AfDB officials, who were welcomed by Finance and Economic Development Minister Professor Mthuli Ncube, officials from the Treasury and other government officials, arrived at the Robert Gabriel Mugabe International Airport in Harare yesterday afternoon.

The second structured dialogue platform will also be attended by Mozambique's former President Joaquim Chissano, who is other high-level facilitator of the debt resolution strategy.

Speaking after his arrival, Dr Adesina said: "I come here with a lot of expectation that we will have a lot of dialogue, a lot of frankness, and a lot of openness. I think that we are coming here with a solutions mindset, and I am very hopeful that we will get to a pathway that will give solutions for a new Zimbabwe."

Dr Adesina note that this is the second meeting in terms of the dialogue on Zimbabwe's arrears clearance and also debt resolution, showing the high level of commitment.

Meetings have already been held with development partners and the private sector to apprise them of Zimbabwe debt situation.

Prof Ncube said government was grateful that Dr Adesina had arrived in the country ahead of today’s meeting, which is expected to thrust Zimbabwe’s economy on a sustainable growth trajectory.

“We are very pleased that Dr Adesina is here today to join in the second high-level dialogue on our arrears clearance. This process started a while ago; this is our second meeting, and he is the champion, so as champion he is here to make sure that he can champion a sustainable path to clearing our arrears.

“We are going to have a great dialogue tomorrow with the partners, the creditors, so that Zimbabwe can find a sustainable solution towards arrears clearance and get our economy back on a sustainable growth path,” said Prof Ncube.

The debt overhang is negatively impacting Zimbabwe’s access to fresh and affordable external funding as well as retarding economic growth.

In December last year, the Government established the Structured Dialogue Platform comprising all creditors and development partners and the private sector, to find working solutions to tackle the country’s arrears.

Zimbabwe’s total external debt as of the end of September last year stood at US$14,04 billion inclusive of the US$5,7 billion bilateral debt.