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*Zimbabwe's total debt now stands at $11, 2 billion* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?ai 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: ---------- itel A70 256GB $99USD WhatsApp: https://wa.me/+263715068543 Calls: 0772464000 ---------- > 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 _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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