Zimbabwe committed to clearing debt obligations -Moyo

Zimbabwe's Minister of Foreign Affairs and International Trade Sibusiso Moyo looks on during a press conference following a meeting with Russia's Minister of Foreign Affairs Sergei Lavrov. Alexander Shcherbak/TASS

LONDON, (Reuters) – Zimbabwe is committed to clearing its debt obligations with the World Bank, African Development Bank and other financial institutions, Foreign Minister Sibusiso Moyo said on Monday.

The country needs to clear about $1.8 billion in arrears with the World Bank and the African Development Bank before it can tap other sources of development financing.

“We are committed to engaging with these key institutions as partners for growth in Zimbabwe, committed to clearing the outstanding debt with the World Bank and the African Development Bank, among others,” said Moyo, speaking in London at a Chatham House event. “We believe that we are going to be able to meet all of our obligations.”