Shortly after the International Monetary Fund (IMF) implemented a staff monitoring program, Zimbabwe’s finance ministry has been working to create a better plan to counter debt, CCTV Africa reported.
“That framework will monitor how we incur debt, for what the purpose those debts were incurred, and of course we are giving priority to incurring debts towards infrastructural development, social and physical infrastructure,” Patrick Chinamasa, Minister of Finance said.
The report further noted that in conjunction with the new financial plan, the country needs to turnaround its performance of meeting obligations — as well as the less than perfect reputation attached to corporate governance and borrowing.
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