The Second Republic is making headway towards ensuring the country's long-standing debt challenges are resolved.
Since assuming office in 2017, President Mnangagwa has assured development partners and creditors that his Government is committed to the implementation of key reforms critical to resolving the country's debts and arrears of nearly US$8,3 billion.
To that end, in 2022 the President appointed a high-level debt resolution team led by African Development Bank (AfDB) president Dr Akinwumi Adesina, who is the facilitator and champion of the high-level dialogue, as well as former President of Mozambique, Mr Joaquim Chissano.
In a statement yesterday, the Ministry of Finance, Economic Development and Investment Promotion said Government was committed to implementing a transparent and collaborative process.
"The Government of Zimbabwe will host at the Harare International Conference Centre, a High-Level Structured Dialogue Platform Forum on 25 November, 2024, to update all stakeholders on the progress made to date and to discuss the roadmap for the arrears clearance and debt resolution process.
"President Mnangagwa, will address the forum. Dr Akinwumi A Adesina, president of the African Development Bank Group and champion of the process, along with His Excellency Joaquim A Chissano, former president of the Republic of Mozambique and the high-level facilitator, will participate in the forum.
"Various stakeholders will attend, including Government representatives, creditors, development partners, international organisations, civil society organisations and the private sector among others.
"The Government of Zimbabwe remains strongly committed to implementing a transparent and collaborative arrears clearance and debt resolution process to ensure the country's long-standing debt challenges can be resolved in the most sustainable manner," reads the statement.
Implementation of the process is being spearheaded by Sector Working Groups (SWGs) tasked with centring discussions on the Government's implementation of reforms under three key strategic pillars.
These are Economic Growth and Stability Reforms, Governance and Land Tenure, Compensation of Former Farm Owners and Resolution of Bilateral Investment Protection and Promotion Agreements (BIPPAs).
Treasury said the three co-chairs of the SWGs representing Government under the Structured Dialogue Platform are expected to present their progress reports during the forum.
"These presentations will be followed by statements from the co-chairs representing Development Partners in the Sector Working Groups.
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"The three Sector Working Groups are as follows: Economic Growth and Stability Reforms; Governance Reforms; and Land Tenure Reforms (bankable 99 Year Lease), Compensation of Former Farm Owners and the Resolution of Bilateral Investment Protection and Promotion Agreements (BIPPAs).
"The forum will conclude with a plenary discussion and a presentation on the Roadmap and Way Forward for the Arrears Clearance and Debt Resolution Process," said the Ministry.
The High-Level Forum follows the technical meeting of the co-chairs of the SWGs of the structured dialogue platform on the arrears clearance and debt resolution process that took place last month.
"The meeting highlighted the significant progress made by Government in implementing reforms underpinning the Process and identified the next steps.
"The Government established in December 2022, a structured dialogue platform with all its creditors and development partners, to institutionalise dialogue on economic and governance reforms to underpin the arrears clearance and debt resolution process," read the statement.
