The City of Harare has threatened residents who fail to pay their debts within the next three months.
In a statement released on Thursday, the City of Harare urged the residents to apply for payment plans within the next three months or risk paying the debts in US dollars.
“Residents who fail to retire their debts within three months of being invited to negotiate payment plans will have their outstanding debts converted to United States dollars at the interbank rate and pay the debts in US$. Council owed over US$17 billion,” said the City of Harare.
“Money owed to council is losing value daily and when it is finally paid,it will not meet its budgeted targets. Hedging the debts against the United States dollar will help council maintain value when it’s finally paid,” it added.
It further went on to announce that it is set to allocate 5000 residential stands.
“When the allocations begin residents will be notified. Residents on the housing waiting will be invited for interviews,” it said.
Last year, the City of Harare did not allocate stands.
