• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Zimbabwe to Hold Talks on $21 Billion Debt Albatross this Month

10 months ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
40
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Zimbabwe to Hold Talks on $21 Billion Debt Albatross this Month

Zimbabwe will resume talks with creditors later this month to restructure $21 billion in external debt as it seeks to exit a default that’s kept it locked out of international capital markets since 1999.

“We have been busy, doing work around getting rid of our albatross in terms of the external arrears,” Finance Minister Mthuli Ncube told lawmakers Wednesday at a pre-budget seminar in Bulawayo, the nation’s second largest city. On November 25 “we will have another high-level dialogue” with creditors to move that agenda forward,” he said.

The talks will also include the African Development Bank President Akinwumi Adesina and former Mozambican President Joaquim Chissano, Ncube said.

Their help was enlisted by Zimbabwe’s President Emmerson Mnangagwa in 2022 to lead the talks with creditors including the World Bank, Paris Club, European Investment Bank and the AfDB.

Last month the nation hired advisers to assist with the restructure.

The arrears have also meant that the nation hasn’t been able to secure financing from multilateral lenders such as the International Monetary Fund, forcing it to resort to the central bank to fund its borrowings.

RelatedPosts

Regular Fiscal Data Publication Key to Having an Effective Fiscal Council, Says Oppong Nkrumah

Finance Ministry Backs New Fiscal Council to Anchor Discipline and Stability

2025 Study: Where High Earners Keep Most of Their Money 

The isolation has fanned inflation and undermined the nation’s efforts to create a stable local currency to replace the US dollar in local transactions, including its most recent attempt when it launched the ZiG, short for Zimbabwe Gold, in April.

The central bank’s Deputy Governor Innocent Matshe, at the same event, urged Ncube to double down on measures to promote the wider use of the ZiG when he presents a budget later this month.

For its part, the central bank will maintain tight monetary policy into the new year to control excess liquidity to support the currency and prevent an inflation surge, Matshe said.

The Reserve Bank of Zimbabwe expects monthly inflation that surged to 37.2% in October from 5.8% in September “to correct,” the deputy governor said. It sees it slowing “to below 5% by end of this year and below 1% for the rest of 2025,” he said.

Source: bloomberg
Via: norvanreports
Tags: $21 Billion Debt AlbatrossZimbabwe to Hold Talks on $21 Billion Debt Albatross this Month

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

GoldBod Introduces Special Bonus for Licensed Miners

Thomas Partey in Top Form for Black Stars Amid Legal Challenges – GFA 

BoG Tightens Foreign Currency Import and Export Rules to Curb Money Laundering

BoG Reiterates Warning Against Unauthorised Foreign Exchange Transactions

GRA to Tax Cryptocurrency Gains as Authority Prepares Digital Tracking System

 Importers and Exporters Association Decries “Mafiarian” Auctions of Perishable Goods at Ghana’s Ports

Trending

Business

Regular Fiscal Data Publication Key to Having an Effective Fiscal Council, Says Oppong Nkrumah

August 27, 2025

Regular Fiscal Data Publication Key to Having an Effective Fiscal Council, Says Oppong Nkrumah Ranking Member of...

Finance Ministry Backs New Fiscal Council to Anchor Discipline and Stability

August 27, 2025

2025 Study: Where High Earners Keep Most of Their Money 

August 27, 2025

GoldBod Introduces Special Bonus for Licensed Miners

August 27, 2025

Thomas Partey in Top Form for Black Stars Amid Legal Challenges – GFA 

August 27, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.