THE government will host another session of the high-level structured dialogue platform forum on November 25 to update all stakeholders on the progress made to date and discuss the roadmap for the arrears clearance and debt resolution process, NewsDay can report.
The structured dialogue platform is seen as Zimbabwe’s last chance saloon to normalise relations with creditors and unlock cheap lines of credit required to reboot the economy.
As of June, total public debt stood at US$20,96 billion of which external debt was US$12,3 billion with the remainder being domestic.
Of the external debt owed to bilateral and multilateral creditors, the latter accounted for US$3,1 billion.
Out of this multilateral debt, US$681 million is owed to the African Development Bank, US$1,5 billion to the World Bank and US$427 million to the European Investment Bank.
In a statement yesterday, the Finance, Economic Development and Investment Promotion ministry said the three co-chairpersons of the sector working groups representing government under the structured dialogue platform would present their progress reports.
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President Emmerson Mnangagwa will address the forum.
“Dr Akinwumi A Adesina, president of the African Development Bank Group and champion of the process, along with His Excellency Joaquim A Chissano, former President of the Republic of Mozambique, the high-level facilitator, will participate in the Forum.”
The ministry said various stakeholders would attend the event, which included government representatives, creditors, development partners, international organisations, civil society organisations, and the private sector, among others.
The three co-chairpersons of the sector working groups that are set to presents their reports are on economic growth and stability reforms; governance reforms; and land tenure reforms (bankable 99 year lease), compensation of former farm owners and the resolution of Bilateral Investment Protection and Promotion Agreements.
The forum is expected to conclude with a plenary discussion and a presentation on the roadmap and way forward for the arrears clearance and debt resolution process’.
“The government of Zimbabwe remains strongly committed to implementing a transparent and collaborative arrears clearance and debt resolution process to ensure the country’s longstanding debt challenges can be resolved in the most sustainable manner,” the ministry said.
“The high-level forum follows the technical meeting of the co-chairs of the sector working groups of the structured dialogue platform on the arrears clearance and debt resolution process that took place in October 2024. The meeting highlighted the significant progress made by government in implementing reforms underpinning the process and identified the next steps.”
In December 2022, government established a structured dialogue platform with all creditors and development partners to discuss economic and governance reforms to underpin the arrears clearance and debt resolution process.