“Zimbabwe is currently in debt distress due to the accumulation of external debt payment arrears amounting to US$6.7 billion,” Ncube said.

“The external debt overhang is weighing heavily on the country’s development needs due to lack of access to international financial resources to finance Zimbabwe’s economic recovery and priority projects.”

“We are looking for a lot of haircuts … very deep haircuts and elimination of all penalties.”

According to Zimbabwe’s debt registry,…