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HomeNewsAfricaZimbabwe looks to clear its debts as it re-engages with the world

Zimbabwe looks to clear its debts as it re-engages with the world

Harare has begun issuing bonds with a life of anywhere between two years and 20 years to help pay back its creditors and hopes to make them tradable, Ncube said in response to a question from The Africa Report.

The country is also issuing an instrument that will allow the country to compensate white farmers whose lands were expropriated under the late President Robert Mugabe to resettle black families.

Paris Club debt

In addition, he said, Zimbabwe has been making token payments to international creditors including the World Bank, the African Development Bank (AfDB), the European Investment Bank and Zimbabwe’s 17 Paris Club creditors “to show that we want to be a good debtor, and not a bad debtor.”

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