According to recent discussions, Zimbabwe and Mozambique officials have made progress on debt resolution efforts. President Mnangagwa met with former Mozambican President Joaquim Chissano at his hotel last Friday evening. Both leaders expressed satisfaction with ongoing debt clearance initiatives during their meeting. Chissano stated he plans to reach out to African Development Bank president Dr. Akinwumi Adesina to accelerate the debt resolution process further.
President Mnangagwa appointed Dr. Adesina to lead the debt resolution process back in 2022, with Chissano serving as a high-level facilitator. The successful implementation of the Structured Dialogue Platform remains essential for Zimbabwe to address its arrears situation. These efforts aim to establish debt sustainability and create access to new affordable financing options for national development programs.
The current strategy aligns with Zimbabwe's National Development Strategy 1, which concludes this year, and its successor program running through 2030. Various sector working groups currently manage reform implementation across several strategic areas. These focus areas include economic stability improvements, governance enhancements, land tenure matters, compensation arrangements for previous farm owners, and resolving bilateral investment protection agreements.
Zimbabwe has already initiated compensation payments to investors whose farms held protection under bilateral agreements before land reform measures began in 2000. Officials approved 94 claims totaling approximately $145 million, with disbursements starting in early January. The national debt currently stands at $21 billion, with substantial external obligations preventing access to long-term financing from major international lenders such as the World Bank and African Development Bank.
Government representatives have emphasized their dedication to maintaining reform programs required under the debt clearance framework. They have expressed readiness to collaborate with international partners to find sustainable solutions for the current debt situation. Late last year, President Mnangagwa hosted a high-level dialogue forum where he acknowledged the valuable support provided by both Chissano and Adesina regarding Zimbabwe's ongoing debt resolution efforts.
President Mnangagwa appointed Dr. Adesina to lead the debt resolution process back in 2022, with Chissano serving as a high-level facilitator. The successful implementation of the Structured Dialogue Platform remains essential for Zimbabwe to address its arrears situation. These efforts aim to establish debt sustainability and create access to new affordable financing options for national development programs.
The current strategy aligns with Zimbabwe's National Development Strategy 1, which concludes this year, and its successor program running through 2030. Various sector working groups currently manage reform implementation across several strategic areas. These focus areas include economic stability improvements, governance enhancements, land tenure matters, compensation arrangements for previous farm owners, and resolving bilateral investment protection agreements.
Zimbabwe has already initiated compensation payments to investors whose farms held protection under bilateral agreements before land reform measures began in 2000. Officials approved 94 claims totaling approximately $145 million, with disbursements starting in early January. The national debt currently stands at $21 billion, with substantial external obligations preventing access to long-term financing from major international lenders such as the World Bank and African Development Bank.
Government representatives have emphasized their dedication to maintaining reform programs required under the debt clearance framework. They have expressed readiness to collaborate with international partners to find sustainable solutions for the current debt situation. Late last year, President Mnangagwa hosted a high-level dialogue forum where he acknowledged the valuable support provided by both Chissano and Adesina regarding Zimbabwe's ongoing debt resolution efforts.
