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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

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Africa

Zimbabwe Seeks to Restructure $12.7B Debt

  Zimbabwe's president met with creditors and finance executives to discuss clearing debt arrears and restructuring $12.7 billion in external debt reports Reuters. The country aims to access international capital markets for the first time in over two decades, despite its debt accounting for 81% of GDP and a history of financial crises.

todayNovember 26, 2024 3

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South Africa

Deputy President Says Government Is Collaborating with Development Bank to Aid Indebted Municipalities

  S.A's Deputy president Paul Mashatile says the government is working with the Development Bank of Southern Africa to secure resources to assist municipalities that are in debt. Municipalities owe creditors 116.5-billion-rand, with 75.3-percent of this debt more than 90 days overdue. In turn municipalities in 2023/2024 were owed 339.9-billion-rand. Answering questions in the National Assembly yesterday, Mashatile said it is concerning that many municipalities are in financial stress:  

todayNovember 1, 2024 29

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Africa

Zambia’s foreign debt tragedy – what needs to happen to resolve the crisis

By Danny Bradlow, University of Pretoria Three years after defaulting on its foreign debt, Zambia is still trying to reach agreement with all its creditors on how to manage this situation. This has left the southern African country in a state of development finance limbo. It is handicapped in raising the funds needed to generate jobs, build infrastructure, provide health, education and social services and deal with climate change. Its president, […]

todayDecember 1, 2023 7

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