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*Zimbabwe's total debt now stands at $11, 2 billion*

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As of October 31, 2016 Zimbabwe’s Public Debt has ballooned to a massive $11.2 billion.  This effectively ruins the country’s relations with international creditors.  The figure of $11,2 billion was equivalent to 79% of gross domestic product (GDP) .

During the budget presentation, Patrick Chinamasa said:

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> As at October 31, 2016, Zimbabwe’s public debt stood at $11,2 billion or 79% of GDP, of which $7,5 billion, 53% of GDP, is external debt. Of the $7,5 billion external debt, $5,2 billion is in arrears, and this has resulted in deterioration of relations with major creditors, thereby, inhibiting access to finance.

> The next step is resolving, early in 2017, arrears to the other multilateral creditors, for instance the African Development Bank, $610m; the World Bank, $1,16bn; the European Investment Bank, $212m; and other multilateral institutions, as well as bilateral official creditors

More:  Newsday

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