INSUBCONTINENT EXCLUSIVE:
$17.7 billion, of which $12.7 billion was external and $5 billion domestic.Most of the foreign debt was purchased from China, as the country
is ineligible for loans from multilateral creditors such as the World Bank and the International Monetary Fund (IMF) after defaulting on
repayments since the turn of the millennium.Since the fall of long-time ruler Robert Mugabe six years ago, Zimbabwe has been struggling to
reach an agreement with creditors to restructure its unsustainable debt.Former Mozambican president Joachim Chissano and African Development
Bank President Dr Akinwumi Adesina are leading the debt restructuring dialogue, which suffered a blow last month when the United States
amount of loans written off, but observers said it may not be much, as Zimbabwe increased its Chinese debt for infrastructure projects after
leverage as it seeks to counter US influence in Africa.China vehemently denies the accusations, saying its relations with African countries
concessionary loan finance has been blocked
previous year, the government announced that the country had borrowed $200 million from China, securing the loan with 26 million ounces of
constrains development through limited access to concessionary funding, currency devaluations, rising cost of money and sluggish economic
upgrade two of its main international airports and to expand its two main thermal and hydroelectric power stations.Source: The East
