Zimbabwe: Govt to Raise Zw$ 9 Trillion Amid Debt Crisis

The government is set to borrow ZW$ 9 trillion, approximately US$640 million, largely from the domestic market to cover its 2024 budget gap, a move many fear may rattle the local financial market.

Zimbabwe’s government has largely relied on the domestic market to raise funds to meet budget deficits owing to strained relationships with international financiers over failure to meet debt payments.

A debt crisis has made it difficult for the country to access long-term external loans for many years.