WATCH LIVE: Gambakwe looks at the failed debt cancellation talks for Zimbabwe as key stakeholders have refused to participate in the discussions citing the lack of progress by the Zimbabwe Government.
The USA was not present at the current talks and only ambassadors of Switzerland, France and the EU spoke at the conference.
The USA suspended its role in the debt restructuring talks after Mnangagwa rigged the elections in August 2023.
Zimbabwe currently owes over 22 billion to International organisations and $8 Billiion locally. Zimbabwe’s interest payments are over 1 Billion a month. These debts do not include money owed to China.
Key events of the day
Former Mozambique President, Joaquim Chissano fails to arrive in Zimbabwe for debt talks
Please watch the video above this post for more details.
TOPICS
1. Geo Pomona to manage Harare waste management.
2. Christopher Dube fired again.
3. The owner of Pamela creations, Pamela Mwapaura (41) beat up her husband Kwame Mwemba (53) in March 2024. Pamela was relieved after Mwemba withdrew charges. Some time in March, Pamela stalked her husband to Luveve suburb. Along the way, Mwapaura offered a lift to a certain woman from Entumbane suburb to Luveve. Pamela then blocked the vehicle and smashed Mwemba’s cellphone worth $1000. On 2 November, Pamela punched Mwemba several times after a fight over money. This is after Mwemba wanted to borrow money from Pamela.
4. Edith Mukuwapasi and her husband ran the Knowstics International Boys Academy and Knowstics Girls Academy. Her husband, Mukwamba was her teacher at Bonda mission. The school was founded in 2013 and collapsed in 2023 after the school failed to pay salaries. Edith was a cleaner in the UK where her teacher was a teacher in 2001. Among some of the bizarre changes made by the school was the scrapping of form two and the scrapping of arts and commercial subjects.
Conclusion
The Zimbabwe economy has collapsed and a new approach is required. The IMF has indicated that Zimbabwe’s debt is unsustainable.
Political reforms are urgently needed in Zimbabwe
IMF to arrive in Zimbabwe in January
Mnangagwa asked to do the following:
– Clear its arrears with the African Development Bank, the World Bank, and the European Investment Bank
– Obtain financing assurances from bilateral creditors
– Adopt a comprehensive macro-economic transformation program
