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Zimbabwe’s external debt hits US$8billion

Zimbabwe’s external debt hits US$8billion. The strategy paper revealed that the country’s total public and publicly guaranteed external debt position was estimated at US$8 billion as at end of June 2019 and of this amount, US$5,9 billion constitutes accumulated arrears.

Zimbabwe’s external debt is an estimated US$8 billion, the Finance and Economic Development 2020 pre-budget strategy paper has revealed.

The World Bank and IMF have endorsed Zimbabwe’s plan to clear the foreign debt, the finance minister announced on Wednesday, adding that the lenders had also backed his two-year economic recovery programme.

President Emmerson Mnangagwa has promised to revive the struggling economy, pay foreign debts that the country has defaulted on since 1999 and end Zimbabwe’s international pariah status gained under former president Robert Mugabe’s near four-decade rule.

Finance minister Mthuli Ncube, who is attending the IMF and World Bank meetings in Bali, Indonesia, said in a statement his plans to clear the arrears to the World Bank, African Development Bank and European Investment Bank had been accepted.

The World Bank

“All the cooperating partners and creditors present uniformly expressed their support for Zimbabwe and its arrears clearance road map,” Ncube said. He did not give details and none of the creditors had an immediate comment.

Source – Bulawayo 24 News

In other news – Madam Boss hits back at critics for wearing bum shorts

Madam Boss hits back at critics for wearing bum shorts. The actress/comedienne lit up the streets of social media yesterday when she posted pictures of herself in a bum short and a crop top.

Madam BossThe pictures caused commotion on social media with some people trolling her for her dressing. Some said her dressing was not suitable for a married woman. She replied to the critic with one of the best comebacks ever we have seen from a celebrity. It was a hilarious clap back. Check the conversation…continue reading.

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