JUST IN: Zim makes progress on Arrears Clearance Road Map

Finance Minister Mthuli Ncube

Finance Minister Mthuli Ncube

Tawanda Musarurwa Business Reporter
Global financiers have expressed optimism about Zimbabwe’s recently launched Transitional Stabilisation Programme, which is aimed at instituting critical economic reforms.

This comes as Finance and Economic Development Minister Mthuli Ncube today met with heads of several global financial institutions in Bali, Indonesia as Zimbabwe expedites re-engagement with co-operating partners on the arrears clearance road map.

The meeting was chaired by the World Bank Group and was attended by the all three International Financial Institutions (IFIs), the African Development Bank, the International Monetary Fund and the World Bank Group, Paris Club Group of creditors as represented by the French, the European Union, and other key bilateral partners such as the United Kingdom, United States of America, Australia, Netherlands, South Africa, among others.

“In the ensuing discussions, the Minister of Finance and Economic Development Professor Mthuli Ncube made a presentation on policy reforms being undertaken by the New Dispensation, focusing on Vision 2030, as enunciated by His Excellency, the President and the Transitional Stabilisation Programme (TSP), which is the policy implementation programme of Vision 2030.

“The Minister’s presentation centred on political and economic reforms being undertaken by Government, especially fiscal consolidation, state enterprises reforms, monetary sector reforms and a road map on arrears clearance,” said Treasury in an update.

“The co-operating partners expressed their endorsement to the Transitional Stabilisation Programme, as it captures adequately the policy reforms that Government is implementing in order to turn around the country’s economic fortunes.

“In this regard, the international community emphasised the need to judiciously implement the measures as outlined in the TSP. They reiterated that implementation of the TSP is crucial for arrears clearance. Furthermore, Zimbabwe’s request for a more accommodative treatment under the Pari Passu principle received positive consideration by the partners.”-The Herald.