Cape Town – Zimbabwe is likely to benefit from debt
cancellations by the French government after Social Economy Minister Benoît
Hamon said his country intended to transfer loans made in the past into
donations in 2014.
The debt relief was almost immediate, the minister said,
naming Somalia, Zimbabwe, Chad, Ivory Coast and Sudan as the countries set to benefit from the plan, according to a newzimbabwe.com report.
It was however, not clear how much Zimbabwe owed France but
the southern African country is said to be chocking under a debt pile of more
than $10bn, the report said.
Zimbabwe has been reeling under western sanction for over a
Last month the 89-year-old veteran leader called on European
nations to lift sanctions against Zimbabwe in order to boost trade ties.
Mugabe was quoted as telling France to have a “national
introspection” and see whether it was right to continue to pursue the policy of
sanctions against Zimbabwe.