With Zimbabwe’s inflation rate running rampant, President Emmerson Mnangagwa of Zimbabwe completed a two-day round of talks on Tuesday that focused on the country’s debt-laden economy. Mnangagwa met with Akinwumi Adesina, head of the African Development Bank (AfDB), to discuss ways to resolve some US$13 billion in debt. “Zimbabwe did well by growing the economy by about 6% in 2021, which was above the growth average for Africa,” Adesina told reporters. The AfDB says Zimbabwe is the only regional member country under sanctions with the development bank because of debt arrears of more than $2.6 billion. The AfDB leader also met with African and G7 nation diplomats and financial leaders while in Zimbabwe.

Source: The North Africa Journal July 13, 2022 01:30 UTC