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Message: [QUOTE="Nehanda, post: 29686, member: 2262"] Zimbabwe keeps moving forward to fix its late debt payments. The country needs to reshape what it owes and make everything current rather than overdue. By early next year, Zimbabwe should rejoin the worldwide money community in good standing. The next step involves the International Monetary Fund checking Zimbabwe's books for nine months straight. This ongoing review helps Zimbabwe prove it manages money well. Once it passes this test, it can finish deals with other countries and banks to restructure its overdue payments. When Zimbabwe clears these late payments, lenders will no longer view the country as risky. This will lead to cheaper loans for regular needs. Plus, Zimbabwe can access super cheap loans from worldwide groups that help countries grow. Finance Minister Mthuli Ncube feels upbeat after six years of tight money management under President Mnangagwa. The hard work of fixing debt problems has almost paid off as the project enters its final phase. The IMF has been checking Zimbabwe's finances regularly since President Mnangagwa took office. Each year, their reports show better results as old problems are fixed. The upcoming review just digs deeper into details than before. President Mnangagwa's team has no issues with outside experts watching how they run things. They believe in openness as shown by sharing more information both inside and outside the country. Being transparent proves Zimbabwe runs well with low risk. The IMF will confirm this through their upcoming reports. They never give perfect scores to any country, but they will measure how well Zimbabwe sticks to budget rules and pays bills properly. These reports matter because potential sponsors read them carefully. Zimbabwe already started talking with possible helpers. Many feel for Zimbabwe's situation and want to assist, but they need proof everything runs honestly. This makes sense because they prefer backing success stories rather than troubled cases. African Development Bank president Dr. Akinwumi Adesina leads the debt-fixing program along with former Mozambican President Joachim Chissano. Dr. Adesina will retire soon but wants to keep pushing for Zimbabwe even after he leaves his position. Having respected outsiders involved made others pay attention to those who might have ignored Zimbabwe before. At a minimum, they won't block a reasonable debt-clearing plan, and many might actively support it. The European Union recently removed almost all restrictions against Zimbabwe. Only a symbolic weapons ban remains, which doesn't affect business or trade. They stated that better relations came partly because Zimbabwe worked hard to address its debt situation. When looking at who votes in global lending groups where Zimbabwe owes money, stopping a fair debt plan would require European countries to back the few remaining pro-restriction nations. Direct European support would help Zimbabwe the most, but even neutral positions would work. Fixing overdue debts requires more than promises from Zimbabwe. The country must follow payment schedules, and those supporting such plans need assurance Zimbabwe means business and can meet the terms. That explains why the IMF watches closely. Any payment plan must allow Zimbabwe to keep growing rapidly without hurting businesses. Having facts everyone agrees on, certified by the IMF, enables a proper debt clearing program. This lets Zimbabwe return to normal financial relationships where it belongs. [/QUOTE]

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