Zimbabwe: 'Debt Forgiveness Crucial for Zim'

17 January 2020

AS the country's central bank and treasury chiefs head to the forthcoming World Economic Forum in Davos, Switzerland next week, Imara Asset Management (Imara) says the country is in desperate need of a fresh capital injection and debt forgiveness. The respected asset firm pointed out that while Harare has listed counters creating value for shareholders under tough operating conditions, it remained crucial for the country's creditors, especially multilateral lenders, to extend an olive branch to Zimbabwe.

Zimbabwe is currently in debt distress with public and publicly guaranteed debt at 97 percent of Gross Domestic Product against the statutory provision of 70 percent.

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