HARARE, Zimbabwe (BG) – During a High-Level Structured Dialogue meeting in Harare, Zimbabwe, on Monday, Dr. Akinwumi A. Adesina, President of the African Development Bank (AfDB), praised Zimbabwe’s progress in addressing its $21 billion debt.
He emphasized the importance of international dialogue, calling it essential for overcoming differences and achieving debt resolution.
Adesina also stressed the need to end 23 years of economic sanctions. He highlighted reforms such as exchange rate unification and efforts to eliminate quasi-fiscal operations at the Reserve Bank.
The AfDB has provided significant support, including $55 million in credit lines, and committed to further aid for Zimbabwe’s economic recovery.
Adesina called for a detailed, time-bound plan for clearing Zimbabwe’s arrears, underscoring the importance of global collaboration. He noted the country’s rich mineral reserves, which are key in the global energy transition.
Former President of Mozambique, Joacquim Chissano, and Zimbabwe’s President Emmerson Mnangagwa commended Adesina’s leadership in the debt resolution process. They urged the international community to offer additional financial and technical support to ensure Zimbabwe’s continued reform success.
Zimbabwe is set to begin a staff-monitored program with the IMF in January 2025 to further accelerate its debt resolution efforts, with plans to clear arrears and restore economic stability.
The AfDB continues to champion this process, aiming to unlock Zimbabwe’s economic potential.
