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While debt sometimes provides the ability to build other income-earning assets, it is important that countries move away from financing consumptive expenditure using debt.
It said while AfDB had made headway in its initial engagements, the lender failed to line up a plan that tackles underlying causes behind the debt crisis.
According to Zimcodd, as at the end of September, Zimbabwe’s total public debt, including the Reserve Bank of Zimbabwe debt was estimated at $10,97 trillion.
The national debt is currently estimated to be close to US$20 billion which includes resource-backed loans with China and the African Import Export Bank, multilateral partners and domestic lenders.
Deputy Finance minister Clemence Chiduwa blamed the sanctions imposed by the United States through the Zimbabwe Democracy and Economic Recovery Act (Zidera) of 2001