World Bank spells out loan conditions for Zim

By Golden Sibanda

 February 8 2009- ZIMBABWE would have to clear a mammoth US$1,2 billion debt to the World Bank to qualify for direct financial assistance from the international lending institution.

The country’s obligation to the World Bank alone equals the 2010 Budget projected revenue target and the country has no capacity to retire the debt.

Debt relief, vulture funds

By Sonny Mabheju

February 8 2009- A lot is being said and written these days about Zimbabwe’s debt and whether the nation should seek debt relief under the Heavily Indebted Poor Countries initiative.

The question of whether or not debt should be written off in the first place is not addressed in this article. It brings in a subjective debate.

The HIPC programme has a number of conditions to be fulfilled, largely similar to those attached to IMF and World Bank loans, requiring structural adjustments and at times including privatisation of public entities like water and electricity.

Biti’s HIPC another Esap

February 7 2009
In recent months there have been shrill calls for Zimba-bweans to declare total bankruptcy, allow Western governments to tie a leash around our necks and surrender the nation’s fate to the Highly Indebted Poor Countries (HIPC) initiative.

The calls reached a crescendo in Harare last week during a debt repayment workshop with Finance Minister Tendai Biti trying to sell this idea, but there were no takers.

 
US$51m loan on hold

By Darlington Musarurwa

January 31 2009

MEASURES calculated to come up with a debt strategy which entails establishing the extent of the country’s debt and its creditors have begun, The Sunday Mail Business has learnt.
The new development comes in the wake of revelations that the debt burden is making it increasingly difficult to access lines of credit.

Sources privy to the goings-on told this paper last week that there are indications that the African Development Bank (AfDB) might not avail the US$51 million loan to power utility Zesa for its key emergency rehabilitation works until the country comes up with a debt strategy.

Upcoming  Events For 2010 

Global Week of Action on Trade Justice -April

SADC People's Summit- August

Southern Africa Social Forum-October

Global week of Action Against Debt and IFIs-October