Zim to clear US$605m debt

Zim to clear US$605m debt

Zimbabwe is on course to clear its US$605 million debt with the African Development Bank (AfDB), which will allow the country to start accessing funds from the bank early next year, Finance and Economic Development Minister Professor Mthuli Ncube has said.

In an interview on the sidelines of the ongoing 54th Meeting of Boards of Governors of the AfDB and the 45th Annual Meeting of the African Development Fund here, Prof Ncube said the country was complying with requirements that will pave way for it to access funds.

“We are expecting it (funding) end of January or February next year because the roadmap requires Staff Monitored Programmes from the International Monetary Fund (IMF) and we signed up to go through test dates and the last test date is in December or January next year and at that moment, if all goes well, will finally access the monies,” said Prof Ncube.

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