Nevanji Munyaradzi Chiondegwa
HARARE – This afternoon, His Excellency President Emmerson Mnangagwa addressed the sixth High-Level Structured Dialogue Platform Forum on Arrears Clearance and Debt Resolution, emphasizing Zimbabwe’s economic advancements and reform initiatives. The forum convened key stakeholders, including former Mozambican President Joaquim Chissano and African Development Bank President Akinwumi Adesina, together with government officials, diplomats, and representatives from various sectors.
In his opening remarks, President Mnangagwa welcomed participants, stating, “Let me first of all welcome you all to the sixth High-Level Structured Dialogue Platform Forum on Arrears Clearance and Debt Resolution Process.” He highlighted the significant progress made since the platform’s establishment in December 2022, saying, “We have registered tremendous progress, with growing consensus, trust, and confidence in this initiative.”
The President praised the resilience of the Zimbabwean economy, noting, “the Zimbabwean economy has shown resilience, registering a 5.3 percent growth in 2023.” He projected future growth, stating, “In 2025, the economy is projected to rebound and grow by 6 percent due to the recovery of the agriculture and mining sectors.” He acknowledged challenges, remarking, “despite the challenges associated with the external debt overhang, global climate shocks, and the albatross of the illegal economic sanctions, Zimbabwe is realizing key milestones.”
Key policy measures discussed included a commitment to maintaining fiscal discipline: “Government remains committed to maintaining fiscal discipline through sustainable budget deficits of less than 2 percent of GDP.” He also emphasized the importance of tight monetary policy, stating, “Tight monetary policy to support the effective management of money supply growth will remain in place.” In April 2024, the government introduced the new local currency, the Zimbabwe Gold (ZIG), which aims to bolster macroeconomic stability.
On the topic of international engagement, President Mnangagwa shared details about ongoing negotiations with the International Monetary Fund (IMF), noting, “to anchor the implementation of further economic reforms under the Arrears Clearance and Debt Resolution Process, Government is currently negotiating a Staff Monitored Programme (SMP) with the IMF.” He acknowledged that implementing these reforms could negatively impact vulnerable populations, emphasizing, “The protection of vulnerable groups through effective social protection programmes is of critical importance to my Government.”
Regarding land tenure reforms, he declared, “In October 2024, my Government made a bold decision to give security of tenure to all beneficiaries of the Land Reform Programme.” He noted that land held under 99-year leases will now be “bankable, registrable, and transferable.”
President Mnangagwa reaffirmed the government’s commitment to good governance and the rule of law, stating, “We deem it our fundamental interest to consolidate constitutionalism, the rule of law, and the protection of constitutionally enshrined rights and freedoms.” He outlined ongoing efforts to combat corruption, noting, “The fight against corruption is being strengthened with the anticipated enactment of the Whistleblower Protection Bill, the Witness Protection Bill, and the Asset and Conflict of Interest Bill.”
In his concluding remarks, the President called for continued international support: “I call for the continued support of our creditors and Development Partners.” Expressing gratitude for the support received, he stated, “In conclusion, may I reiterate my Government’s strong determination to see this Arrears Clearance and Debt Resolution Process realize our intended results.” He finished with a heartfelt, “God bless you. God bless Zimbabwe.”
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