WASHINGTON D.C., — Stakeholders in Zimbabwe’s Arrears Clearance and Debt Resolution Process have hailed the country’s progress during a high-level roundtable held on the sidelines of the International Monetary Fund (IMF) and World Bank Group Spring Meetings in Washington, D.C.
However, they also underscored the need for sustained reforms and increased international support to ensure the successful conclusion of the process.
The meeting, attended by senior representatives from international financial institutions, creditor nations, and regional bodies, commended the progress made under Zimbabwe’s Structured Dialogue Platform—particularly in areas of economic stability, land reform, and compensation of former farm owners.
Former President of Mozambique and facilitator of the dialogue, Joaquim Chissano, praised the achievements to date. “The parameters of the dialogue have been set. Most issues have been dealt with. Commitments and targets have been agreed upon. We should all be proud of the dialogue process and what it has achieved,” he said.
His sentiments were echoed by African Development Bank President Dr Akinwumi Adesina, who noted, “Zimbabwe has made a lot of progress, against all odds. Now, we all should rally around it to conclude this process.” However, he also warned that recent developments—such as the passage of the Private Voluntary Organisations (PVO) Amendment Bill—could jeopardise the gains made.
Adesina outlined several key next steps, including IMF approval of a Staff Monitored Programme, the mobilisation of bridge loan financing, and prioritisation of Zimbabwe’s arrears clearance within the G20 Common Framework. He confirmed that the African Development Bank is working to mobilise additional resources through the upcoming 17th replenishment of the African Development Fund.
The World Bank, IMF, and bilateral partners from countries including the United Kingdom, France, Germany, and the Netherlands acknowledged Zimbabwe’s efforts while urging further action, particularly in governance reform.
Land Reform Milestones Recognised
A major highlight was the acknowledgement of Zimbabwe’s strides in land tenure reform. The Farm Title Deed programme, launched in December 2024, offers 99-year bankable and transferable leases. In addition, ongoing compensation payments to former farm owners were commended.
Andrew J. Pascoe, former president of the Commercial Farmers Union, confirmed receipt of the first tranche of US dollar cash payments to signed-up former landowners. “After almost 20 years, we have been able to negotiate an agreement in mutual respect and trust. This compensation is a momentous event for our country,” he said, thanking President Emmerson Mnangagwa for honouring his government’s 2018 commitment.
Reforms Drive Economic Optimism
Zimbabwe’s Finance Minister, Mthuli Ncube, reported an optimistic economic forecast, projecting 6.0% GDP growth in 2025—up from 2.0% in 2024, which was affected by drought. He credited fiscal discipline, exchange rate reforms, and the introduction of the new ZiG currency in April 2024 for the renewed macroeconomic stability.
Additional reforms include the cessation of quasi-fiscal operations by the Reserve Bank of Zimbabwe, prudent expenditure rationalisation, and the resumption of token payments to creditors.
Governance: Progress and Concerns
Participants welcomed governance improvements such as the abolition of the death penalty and initiatives to enhance judicial efficiency and anti-corruption measures. However, concerns remain regarding democratic processes, civil society engagement, freedom of expression, and electoral reforms.
“These challenges show that dialogue is still needed for reforms to take root. They also show that political reforms are not a linear process,” Chissano noted, calling for continued commitment and energy in the dialogue.
A Call for Global Solidarity
Elias M. Magosi, Executive Secretary of the Southern African Development Community (SADC), emphasised Zimbabwe’s strategic importance in regional trade and integration. He called for international partners to stand by the country during this crucial phase.
Dr Adesina, who was appointed by President Mnangagwa nearly three years ago to champion the debt resolution effort, remains optimistic. “We will succeed in giving Zimbabwe and its people a full arrears clearance and debt resolution so that it can receive the concessional financing it needs to grow and prosper.”
As the dialogue enters its final stretch, stakeholders are hopeful that, with continued reforms and global solidarity, Zimbabwe can turn the page on decades of financial isolation and move toward inclusive, sustainable development.
