Harare – Zimbabwe debt clearance talks continued in Harare on Thursday with the Africa Development Bank (AFDB) as the southern nation is looking at ways to clear US$ 21 billion debt.
President Emmerson Mnangagwa held a meeting with AFDB’s President Dr. Akinwumi Adesina and Joachim Chissano, the former president of Mozambique at State House.
Present in the meeting include AFDB country manager in Zimbabwe, Moona Mopotola and Nuno Thomas, an advisor to Chissano.
“Our discussions focused on Zimbabwe’s Arrears Clearance and Debt Resolution Process under the Structured Dialogue Platform, a key step towards restoring financial stability and unlocking new opportunities for economic growth,” Mnangagwa said after the meeting.
Zimbabwe has a debt of US$21 billion of which $12.3 billion is external debt and $8.7 billion domestic debt.
The country owes US$3 billion compensation to former white commercial farmers who were violently removed from their farms in the early 2000s.
Mnangagwa has held several meetings with the AFDB in the past years trying to find a solution to the country’s debt crisis.
The government of Mnangagwa is battling to fix an ailing economy that has high unemployment and an underperforming industry.