News
Market
Jobs
About
Contact
List Product
Register
Login
Generate
WhatsApp Message
*IMF: Zim's Mineral Backed Loans May Complicate Future Negotiations With External Creditors* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?ps Gene Leon, the International Monetary Fund (IMF) mission chief to Zimbabwe has stated that foreign loans that Zimbabwe acquired using minerals as collateral may complicate the country’s future negotiations with foreign creditors. Zimbabwe currently owes about $8,8 billion and is struggling to service the debt. Resultantly, multilateral financial institutions have withdrawn lines of credit for the Southern African country. In emailed responses to the NewsDay, Leon said: ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- > In this context, the government has contracted external loans on commercial terms that are collateralised by mineral exports. > While these loans can help the authorities in responding to the economic and humanitarian crisis that is unfolding, they may also complicate future negotiations with external creditors to restore debt sustainability. Leon said Zimbabwe’s projections of economic growth would probably be revised in the short term because of drought and cyclone Idai. The IMF forecasts the economy will shrink by 2,1% this year before it shoots to 3.3% next year. More: NewsDay _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
Copy to clipboard
Give us Feedback
Full Name
WhatsApp Number
Feedback
Submit
Feedback