Debt strategy

Finance Minister Tendai Biti has presented the new debt strategy to the African Development Bank. Zimbabwe owes some $2,504 billion - $1,126 billion to the World Bank, $550 million to the IMF, $529 million to the AfDB, and $221 million to the European Investment bank. The hybrid debt resolution strategy includes the adoption of traditional initiatives, combined with leveraging natural resources to achieve sustainable economic development. It aims to clear the debt by 2020.