He said just like other international financiers, the EIB has the same problems with
"The fact that we have arrears certainly blocks us directly from doing business with any borrower who is in arrears. We are a bank and are prudent," said
"We have an AAA rating and we have to continue to have that. It (arrears) is certainly influencing the way we deal with the private sector. But we try to make that influence as minimum as possible," he said.
The arrears to EIB include bilateral loans advanced by
"The arrears influence certainly the way how our authorities will take positions on
The EIB is cooperating closely with the
The country owes the
Minister Chinamasa has said that the resolution of
Minister Chinamasa said the debt overhang has become one of the serious impediments to the country's developmental agenda.
"The continued accumulation of external debt payment arrears is seriously undermining the country's creditworthiness, and severely compromising the country's ability to secure new financing from both bilateral and multilateral sources," said Minister Chinamasa.
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