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France may cancel Zimbabwe debt – report

06 November 2013, 12:36

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 decade.

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.

- News24


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