Stakeholders  flag  Zimbabwe’s resource-backed loans

STAKEHOLDERS drawn from civil society, academia and various government departments from have raised concerns over Zimbabwe’s growing appetite for resource-backed loans (RBLs), warning that the borrowing model exposes the country to long-term economic risks.

The stakeholders called for greater transparency, accountability and parliamentary scrutiny of loan agreements backed by the country’s mineral wealth, while questioning whether the deals deliver sufficient public benefits to justify use of natural resources as collateral security.

The concerns emerged during a breakfast meeting organised by the Zimbabwe Coalition on Debt and Development (ZIMCODD) and Friedrich-Ebert-Stiftung Zimbabwe in Harare on Tuesday.

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