Zim debt crisis;Mnangagwa gets reality check ; told to ensure free elections and guarantee property rights

Staff Writer

PRESIDENT Emmerson Mnangagwa’s efforts to engage external creditors in finding a lasting solution to the country’s debt crisis have met the test of times after facilitators in the dialogue process called for free elections and guaranteeing property rights as some of the immediate low hanging fruits to smoothen negotiations.

Last year Mnangagwa set up a team led by the AfDB president, Dr. Akinwumi Adesina to establish a roadmap to clear the country’s huge debt which has served as a stumbling block in unlocking new credit lines.

The efforts are in line with Mnangagwa’s re-engagement efforts to bring back the embattled Southern Africa nation into the global community after years of isolation triggered by the land reform exercise.

The Southern Africa nation is saddled with an external debt stock of US$14,04 million.

But addressing delegates at the Second Dialogue Platform on Arrears Clearance and Debt Resolution Process for Zimbabwe held in Harare Thursday, former Mozambique President Joaquim Chissano who is also playing the facilitation role in the processes said after meeting diplomats and development partners, a call for broad based reforms was echoed.

“Another problem that was raised was the need to address Zimbabwe’s prevailing reputational problem .There is a perception that, in some cases, the government does not honor agreements and commitments made, as well as implement decisions taken,” he said.

In this regard, Chissano said it was underscored that for development partner issues such as the guarantee of property rights and investment protection agreements are critical as well as the ability to repatriate profits and macro-economic stability.

“Few investments will come to Zimbabwe if these conditions are not met. This perception leads to the deepening of mistrust between the government and development partners,” the ex-head of state said.

Chissano said stakeholders also emphasized that regular dialogue helps mutual understanding , build trust , move forward steadily and achieve progress and stressed  that the process provided an important opportunity  not only for the settlement of debt but also for improving relations with development partners. This unique opportunity should not be missed.

 “We would like to encourage Zimbabweans to conduct themselves in an orderly manner during the electoral process .They should stay away from violence and freely choose their leaders and representatives in government and parliament.

“They should not allow themselves to be manipulated by anyone to engage in violence or any illegal acts that may undermine the electoral process that is peaceful, free, fair and transparent,” he said.

He added that the country must remain vigilant and participate in a process that is peaceful, free and transparent.

AfDB president, Dr Akinwumi Adesina who is leading the debt resolution process for Zimbabwe expressed confidence that the Sector Working Groups that have been established for structured dialogues on these issues will build much needed trust, momentum, and implementation.

“The governance working group would allow us to tackle and make measurable progress on critical issues of freedom of speech, human rights protection, and implementation of laws in line with the constitution, as well as the implementation of the Motlanthe commission of inquiry and compensation of victims.

“And we must show progress on the Zimbabwe Democracy and Economic Recovery Act (ZIDERA). All of which should make for peaceful, free, and fair elections. They will also remove headwinds on our path to arrears clearance and debt resolution,” he said.