Domestic resource mobilisation key for Zimbabwe – AfDB
Senior Business Reporter
Boosting domestic resource mobilisation is critical for Zimbabwe’s economy going forward as external financing for the country is likely to remain clogged, the African Development Bank (AfDB) has said.
Official data shows that the country’s total public debt stands at US$11,1 billion, approximately 53,9 percent of gross domestic product (GDP).
And of that total, 95,6 percent is external, which includes $6,4 billion in arrears to international financial institutions, bilateral, and private creditors.
“Zimbabwe has been in default since 2000. A Staff Monitored Programme with the International Monetary Fund to help Zimbabwe implement economic policies from May 2019 to March 2020 ended in September 2019.