Zimbabwe’s massive debt could be eased significantly after two economic powerhouses, the United Kingdom and France, agreed to be a part of the newly established Debt Consultative Group (DCG) under Zimbabwe’s Structured Dialogue Platform.
Both European nations are set to co-chair the DCG, according to Zimbabwe’s Finance, Investment Promotion and Economic Development ministry.
The ministry lauded the move as pivotal in Zimbabwe’s efforts to resolve its debt issues, noting that it would restore confidence in the southern African country’s economic reform policies.
Primarily, the DCG would handle Zimbabwe's US$2.7 billion arrears clearance and debt restructuring framework, which has been designed to restore the nation's debt sustainability and rebuild confidence among international financial institutions and development partners.
What the Zimbabwean ministry said
