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The High Level Structured Dialogue Platform on the Arrears Clearance and Debt Resolution has commenced.

This is the sixth gathering under this arrears clearance and debt resolution platform since its inception in 2022.

Permanent Secretary George Guvamatanga said remarkable progress has been made so far.

African Development Bank President Akinwumi Adesina has taken to the podium.

He acknowledges the new Ambassadors from the UK, France, Canada and the US following the commencement of their respective mission to Zimbabwe.

“Dialogue calls for people to listen to each other. We have to put the past behind us for a better future”,said President Adesina

Zimbabwe is a beautiful nation with wonderful people. It is time to make Zim beautiful again. We must all play our part to fix the anomaly so Zimbabwe can run to build infrastructure that will integrate the whole SADC region, he added.

” We must look at Zimbabwe with new lenses”,said President Adesina

Dr. Adesina said  the dialogue platform is the only way so we should all make it work. AfDB to avail additional support to Zim

“New ambassadors join the debt resolution dialogue including the UK, USA” , he said

President Adesina also said that, Staff Monitoring Programme is set for January.

Dr. Adesina expresses gratitude to President Mnangagwa for Zim commitment. He pleads with the President for the extension of registration for CSOs from 3 months to 6 months

He said the new land tenure announced by President Mnangagwa recently is a major development

“At the African Development Bank,  we will comtinue to strongly support Zimbabwe. The bank provided usd55 million in lines of credit to the private sector. TheAfrican Development Bank is currently working on a usd100 million facility for Old Mutual and CABS”, Dr Akinwumi said.

He pointed out that over 30 000 farmers have been suppprted by the African Development Bank and the target is to reach 200 000 hectares. A 47,5 million for Zim and Malawi on the cards

“We now need to collectively agree on a timebound plan to deliver the arrears clearance and debt resolution, it will be critical for one country to champion the process”, President Adesina added.

President Adesina said that  Dvpt partners need to provide clarity on the triggers and incentives for the reforms.

“This will make Zim continue running faster”, he said.

He also said that the progress they have made and committment shown will bear fruit if we do not relent.

“Let us pick up pace and get to the finish line, full arrears clearance and debt resolution for Zim”, Dr Adesina said.

Ambassador Nuno Tomas, advisor to High-Level Facilitator HE Chissano, former president Mozambique
Next speaker
Chissano: Chissano addressing the meeting virtually as he could not travel due to political tensions in Mozambique
Main thrust of dialogue which is engagement has been achieved in the last 3 years. The dialogue has been open and on goodwill
Reform on transparency has increased accountability which is important for engagements under the SMP.

President Mnangagwa has now taken to the podium to deliver keynote address.

He says since establishment of the platform, tremendous progress has been registered.

HE: Zim economy has shown resiliemce. Registering growth last year and is projected to grow by 2 percent this year on account of the drought which affected production. 2025 economy expected to rebound and grow by 6 percent due to recovery of agric and mining sectors.

HE: Govt remains committed to maintaining fiscal discipline. Tight monetary policies will remain in place. Coordination between fiscal and monetary policy will ensure stability
HE: There is now greater flexibility on foreign exchange market. To anchor reforms under the arrears clearance platform, Zim is negotiationg SMP with IMF. With regards to land tenure, Govt made bold decision to give security of tenure to all beneficiaries of land reform programme and is in line with Constitution.
HE: Govt and people of Zimbabweans deem fit to consolidate constitutionalism. Govt’s reforms are guaranteed under 2nd Rep.
HE: Fight against corruption is being strengthened by various legislation. PVOs Bill expected to enhance transparency and accountability in the sector while preventing the financing of terrorism and money laundering. Abolition of death penalty going through parly processes
HE: transformative infrastructure projects across the country are changing quality of life for Zimbabweans and funding is mainly through domestic resources.
HE: successful implementation of debt resolution strategy is key for Zimbabwe
HE: As Zim transitions to implementation of NDS2 access to external financing will be key for long term funding of programmes and projects.
HE: expresses gratitude to AfDB and high-level facilitator former Moza President Chissano for continuing to facilitate process.
HE: Reiterates Govt determination to see the debt clearance process realise intended results
Ends address

Press briefing on sidelines of the Debt engagement.

Adesina: We now a clear path for Zimbabwe which starts in January next year through the SMP. Next year AFDB will make a request to clear arrears for Zimbabwe
We have indications of a sponsors from one of the creditors next year, so when we start NDS2, we are free from debt and be able to access concessionary loans and long term
Adesina: African economies hamstrung by external factors such as covid, high interest rate, not by financial mismanagement.

I Will make sure, the debt resolution process ends before end of his tenure next year.But indicates the debt process is a whole AFDB issue hence there will be continuity
Domestic resources mobilisation key to support local economies, AFDB will capacitate African economies
ss conference ends