How to breed the abyss dragon in dragon city12/17/2023 ![]() “The total public and publicly guaranteed debt amounted to US$17,6 billion as at the end of September 2022, up from US$17,2 billion as at the end of December 2021. ![]() The Finance minister stated the debt situation when he presented the 2023 budget statement last November. To demonstrate this, I need no one other than Mnangagwa’s Finance and Economic Development Czar - Mthuli Ncube. Zimbabwe’s sovereign debt has more than doubled in five years. Moreover, debt service indicators from the envisaged debt resolution strategy suggest that the country would be required to fork out amounts in excess of 20% of its exports or government revenues in settling restructured debt, which is largely unproductive in nature.” The policy think-tank then said of the debt: “The debt stock is also vulnerable to shocks, mainly export and growth shocks. In simpler terms, the late former leader left Zimbabwe with a debt to the value of US$7,1 billion. The year 2017 is important in that it marks the beginning of the so-called Second Republic or in common parlance - Zimbabwe post the November 2017 coup that ousted Robert Mugabe and brought in Mnangagwa.
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